Firefly Aerospace Inc.
(NASDAQ:FLY) stock jumped more than 7% on Monday after KeyBanc Capital Markets upgraded the stock and pointed to significant upside tied to lunar exploration, national security programs and the expanding commercial space economy.
KeyBanc Upgrade Fuels Rally KeyBanc Capital Markets upgraded shares of Firefly Aerospace to Overweight from Sector Weight and initiated a $50 price forecast, citing accelerating growth opportunities tied to NASA's lunar ambitions, national security spending and the broader expansion of the commercial space economy.
Analyst Michael Leshock said the recent selloff across space stocks following SpaceX's IPO created an attractive entry point for investors.
He argued that the long-term drivers behind the sector remain intact, including rising satellite demand, constrained launch capacity, growing defense budgets and increased NASA activity.
