** At least five brokerages start coverage on Voyager Technologies VOYG.N as the mandatory quiet period ends, with broadly bullish views ** Shares of the space tech firm marginally down premarket
** Voyager raised $382.8 million by selling nearly 12.4 million shares in an upsized IPO last month
** It secured a valuation of $3.8 billion after shares more than doubled in their NYSE debut, opening at $69.75 apiece, above the $31 offer price
** "Large defense pipeline positions for 20%+ multi-year growth", Barclays says, adding that there is a strong probability for Starlab win
** "While it could take one to two years to ramp to a full rate of production, we believe VOYG’s underlying propulsion technology could be sought after by other defense players, including legacy defense primes over time", analysts at KeyBanc said
** Morgan Stanley and J.P. Morgan were the lead underwriters on the listing
** Below are some of the ratings and price targets on VOYG
Brokerage | Rating | Price Target |
Jefferies | Buy | $50 |
J.P.Morgan | Overweight | $52 |
Barclays | Equal weight | $45 |
KeyBanc | Overweight | $50 |
BofA Global Research | Buy | $50 |
(Reporting by Joel Jose in Bengaluru)
((joeljose@thomsonreuters.com;))
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