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Today's top analyst calls - August 31: SPCE U ADS TXT FNKO

ATTRACTIVE OUTLOOK: Jefferies analyst Greg Konrad initiated coverage of Virgin Galactic ($SPCE) with a Buy rating and $33 price target. The company's "attractive outlook" is boosted by supply ramping with additional spaceships driving capacity to 660 flights per year by 2030, up from capacity of roughly 36 today, Konrad told investors in a research note. The desire to explore space coupled with an addressable market that could approach $120B of potential future demand supports a rise to $1.7B of revenue by 2030 for Virgin Galactic, the analyst said.

ONE-OF-A-KIND: Macquarie analyst Tim Nollen initiated coverage of Unity Software ($U) with an Outperform rating and $152 price target. Unity, which operates an enterprise SaaS platform used to create and monetize 3D content, is "a one-of-a-kind company with market share leadership in both its business segments and impressive growth potential beyond its current markets," Nollen told investors. He sees Unity's "rare status and virtuous circle" justifying a high multiple.

'VERY ATTRACTIVE' RISK-REWARD: Bank of America analyst Mihir Bhatia upgraded Alliance Data ($ADS) to Buy from Neutral with an unchanged $121 price target. The risk-reward on the stock is "very attractive" at current levels following a 23% decline since June 4th, the analyst told investors in a research note. Investor concern around the Delta variant and potential for the LoyaltyOne spin-off pressured the stock disproportionately, Bhatia added, stating that its forward earnings multiple is now at 7.6-times versus that of peers at about 10-times.

BUSINESS JET MOMENTUM: Cowen analyst Cai von Rumohr upgraded Textron ($TXT) to Outperform from Market Perform with a price target of $95, up from $75. The analyst cited improving out year prospects amid business jet momentum for the upgrade. The delta variant bolsters the initial COVID demand push to business jets for safety and convenience, von Rumohr told investors in a research note. This could extend the "demand upswing with better profitability than in the last decade," the analyst added. Further, von Rumohr also believes Textron is well positioned to be an electric vertical takeoff and landing leader.

CONFIDENCE IN FUNKO GROWTH: Jefferies analyst Stephanie Wissink upgraded Funko ($FNKO) to Buy from Hold with a price target of $25, up from $21. The analyst has grown "increasingly confident" in the company's 10%-plus medium term growth profile and its business trajectory after attending last week's 2021 Virtual Licensing Expo event. Wissink sees a favorable backdrop as store traffic returns and says Funko's model is "de-risked" by property, category and geographic concentration. Figures remain the most popular expression for Funko fans, but additional categories continue to co-grow, Wissink tells investors. Covid "provided space for fans to dig deeper into back stories, lore, and to unearth second and third level characters," which has reinforced the breadth of the company's approach and reinforced its "tight lock on licensing partnerships," says the analyst.


Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal.

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