2 Space Stocks Wall Street Predicts Will Rally by More Than 50% By StockNews
© Reuters 2 Space Stocks Wall Street Predicts Will Rally by More Than 50%
The commercial space sector is advancing rapidly, driven by significant investments in research and development. Given the industry’s solid prospects, Wall Street analysts expect space stocks Virgin Galactic (SPCE) and Maxar (MAXR) to rally by more than 50% in the near term. So read on to learn why these stocks may be worth a flier.The space industry is achieving continued growth, bolstered by private investments and new technological innovations. According to the second-quarter 2021 Space Report, the global space economy rose to $447 billion in 2020, which is 55% more than a decade ago.
The commercial segment is the fastest advancing segment of the space sector and is expected to drive the future of the industry. Despite the pandemic downturns, commercial space activity grew 6.6% to nearly $357 billion in 2020, representing close to 80% of the total space economy.
Backed by government funding and increasing private investments, the space industry is expected to keep growing. And so, Wall Street analysts predict space stocks Virgin Galactic Holdings, Inc. (NYSE:) and Maxar Technologies Inc. (NYSE:) to rally by more than 50%.
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