BUZZ-York Space rises as IPO research quiet period ends

York Space Systems, Inc. -3.45%

York Space Systems, Inc.

YSS

38.31

-3.45%

Updates

** Shares of satellite manufacturer York Space YSS.N rise 2.42% to $26.50 as IPO research quiet period ends

** Truist Securities, Wells Fargo, Jefferies, Raymond James and J.P. Morgan initiate coverage on YSS

** J.P. Morgan initiates coverage of YSS with "overweight" rating; sets PT of $39

** Cites YSS is poised for spike in demand and is leading supplier of transport layer satellites with meaningful cost advantage vs competitors

** Heightened geopolitical tensions have driven countries to invest more heavily in military space capabilities, including with satellites to make these capabilities more resilient - JPM

** Goldman Sachs, Jefferies, and Wells Fargo Securities were the lead underwriters for the IPO

** YSS down 31.8% since its debut on January 29


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