FLY
A rocket ride on Wall Street
Firefly Aerospace got the kind of Monday many stocks dream about: KeyBanc upgraded the name to Overweight from Sector Weight and set a $50 price target, helping send shares up more than 7%. The market clearly heard “space upside” and immediately reached for the launch button.
Why KeyBanc is suddenly feeling bullish
The firm said Firefly is sitting in the sweet spot of three big themes: NASA’s lunar push, rising national security spending, and the broader commercial space boom. That’s a pretty solid combo platter if you’re betting on more satellites, more launches, and more government contracts.
KeyBanc also pointed to Firefly’s Blue Ghost lunar lander, calling it the only commercial lander to pull off a fully successful Moon landing. On top of that, the broker leaned harder into the company’s recent $75 million MoonFall NASA contract, saying it strengthens the case for Firefly’s Elytra spacecraft platform.
What this means for investors
The analyst raised estimates too, now modeling about $445 million in 2026 revenue and roughly $746 million in 2027. Translation: if Firefly keeps turning moon shots into actual business, the stock could have a lot more room to run than the current pullback crowd expected.
Big picture: space stocks can be wildly mood-driven, but this upgrade says Firefly’s story may be less sci-fi than spreadsheet. And on Wall Street, that’s usually when the real orbit begins.