02:45 PM EDT, 05/27/2025 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We lower our 12-month target price by $1.50 to $3.00, applying an EV/revenue multiple of 1.2x to our 2026 estimate, a slight premium to peers, reflecting its deep customer backlog. We raise our 2025 loss estimate to -$8.63 from -$9.19 and lift 2026's to -$5.34 from -$5.53 While Q1 results provided some encouraging updates on the progress SPCE is making with its Delta class ship, we still have a number of concerns. Assuming no setbacks, which we see as a bold assumption, the first commercial flight won't be until fall of next year. Each flight will only have six customers aboard. So at its full launch capacity of once per week (which will take time to ramp up to), it will only take 24 customers per month, meaning revenue will be slow to ramp. In addition, while it does currently have roughly 800 customers on its wait list, we question how much additional demand there will be at the price of over $600k per seat.