Sir Richard Branson poses outside the New York Stock Exchange (NYSE) ahead of Virgin Galactic (SPCE) trading in New York, U.S., October 28, 2019.
Brendan McDermid | Reuters
Here are the biggest calls on Wall Street on Thursday:
Credit Suisse initiated Virgin Galactic as ‘outperform’
Credit Suisse initiated coverage of the space flight company and said it had an “attractive” business model.
“Our bullish view reflects the near-term monopoly SPCE offers in an industry (commercial space tourism) where public investment opportunities are scarce. We view this as a classic tech-driven high demand, low supply story with high barriers to entry.”
Deutsche Bank added a ‘catalyst call buy’ idea on DuPont
Deutsche Bank put a catalyst call buy idea on DuPont in advance of the release of the movie, “Dark Waters,” which is about an attorney’s battle against the chemical giant for releasing a potentially toxic chemical. The firm says the movie may add clarity and remove an “overhang” from the stock.
“We believe the release of the movie “Dark Waters” on Friday will remove an over-hang on DuPont shares as i) there will be no more unknowns about what the movie says / claims, ii) DuPont will be able to point out factual errors and misrepresentation in the movie, iii) any potential negative share price reaction to the movie will likely be fully reflected by early next week and iv) investors will be able to focus, once again, on the fact that legacy DuPont’s PFOA liability is with Chemours following the separation of Chemours from DuPont in 2015.”