So, Firefly Aerospace (FLY +11.80%). It jumped, alright. A whole 12.2% this morning. Because Morgan Stanley’s Kristine Liwag decided to… nudge the price target up 22% to $33. $33! You know what that means? It means everyone’s suddenly excited about a company that hasn’t exactly set the space industry on fire. It’s like saying, “Well, it’s slightly less likely to fail spectacularly.” That’s the bar now?
And the thing is, it’s not even a buy recommendation. It’s “equal weight.” Equal weight! What does that even mean? It’s like saying, “Yeah, it exists.” It’s the most lukewarm endorsement imaginable. And then, of course, the stock is already trading above her $33 target. So, the whole thing is just… pointless. A completely pointless exercise in… what? Hope?
Why Morgan Stanley Likes…Something
Apparently, Liwag is watching whether these “lift providers” – I mean, really? “Lift providers”? – can actually, you know, deliver on their promises. Groundbreaking stuff. She says investors are interested in “cadence.” Cadence! Like they’re judging a marching band. It’s all so…precise. And the focus is on Flight 7, which, according to Firefly’s website, isn’t happening until sometime in 2026. 2026! I could build a rocket in my garage by then. Probably wouldn’t fly, but still.
And they have the audacity to call it FLTA007. 007! Like they’re James Bond. It’s just… presumptuous. Like they’re already assuming success. It’s a number. A number!
Is This a Buy? Are You Serious?
So, Morgan Stanley wants us to look at the valuation. Fine. Let’s look at the valuation. It’s… not good. They’re unprofitable. Burning through about $200 million a year. That’s a lot of money to just… disappear into the atmosphere. So, they’re valued on sales, which totaled $111 million over the last 12 months. That gives them a price-to-sales ratio of over 47 times. 47! Historically, unprofitable space stocks trade at around 4 times sales. Four! It’s like they’re operating on a different planet…financially, at least.
I mean, come on. It’s a disaster waiting to happen. Liwag is right to be cautious. Actually, she should be shouting from the rooftops. It’s not a buy. It’s closer to a sell. A strong sell. It’s just… irresponsible to even suggest buying this stock. And you know what really gets me? The whole charade. The analysts, the targets, the hype. It’s all just… noise. Just noise!
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2026-01-16 18:52