Goldman Sachs Starts York Space Systems (YSS) at Neutral

Goldman Sachs analyst Anthony Valentini initiates coverage on York Space Systems (NYSE: YSS) with a Neutral rating and a price target of $29.00.

The analyst comments: "YSS manufactures space vehicles (SVs) and provides associated software services for the US government. Its vertically integrated design and manufacturing process means its SVs can be produced at 50% of the cost and 20% faster than defense primes. The cost structure provides a strong value proposition to the customer, the business can be highly profitable at scale, and the company is well positioned for the proliferation of space architecture while the DoW leans toward more efficient commercial models. However, York has customer concentration risk, is 100% Prime and fixed-price, visibility into future demand is limited, and it is not currently profitable or cash generative. As a result, we are cautious over the medium term as YSS must build a track record and convert potential demand to backlog. We initiate coverage at Neutral."

For an analyst ratings summary and ratings history on York Space Systems click here. For more ratings news on York Space Systems click here.

Shares of York Space Systems closed at $25.91 yesterday.

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