---
title: "BUZZ-Street View: Brokerages initiate coverage of Firefly citing strong backlog, market potential"
description: "J.P. Morgan, Jefferies, and Morgan Stanley have initiated coverage of Firefly Aerospacewith positive ratings, highlighting its strong backlog and market potential. J.P. Morgan set a price target of $5"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/255591532.md"
published_at: "2025-09-02T10:29:37.000Z"
---

# BUZZ-Street View: Brokerages initiate coverage of Firefly citing strong backlog, market potential

> J.P. Morgan, Jefferies, and Morgan Stanley have initiated coverage of Firefly Aerospacewith positive ratings, highlighting its strong backlog and market potential. J.P. Morgan set a price target of $55, while Jefferies set it at $60, indicating significant growth potential. Morgan Stanley's target is $52, emphasizing a balanced risk-reward. Firefly has a $1.1 billion backlog and aims to double sales annually through 2028, with key milestones expected in 2025-2026 that may impact share volatility.

J.P. Morgan, Jefferies and Morgan Stanley initiate coverage of space exploration company Firefly Aerospace (FLY.O) with “overweight,” “buy” and “equal rate” ratings respectively

JPM, which set a $55 price target, notes FLY is one of only two small U.S. launch providers and is developing a medium-lift rocket, positioning the company to capitalize on growing demand for satellite launches

Jefferies initiates coverage with $60 PT , valuing FLY at 10.5 times 2027 sales, with upside to $100 at 18 times, in line with Rocket Lab (RKLB.O) and SpaceX multiples

Firefly’s product lineup targets U.S. national security and commercial sectors, including lunar exploration. Co holds $1.1 billion backlog; forecasted by Jefferies to more than double sales annually through 2028

Morgan Stanley initiates coverage with $52 PT, cites balanced risk-reward

Firefly has sent two Alpha rockets into orbit and made the first commercial lunar landing with its Blue Ghost craft; Key milestones in 2025-2026 anticipated to influence share volatility – MS

Brokerage Contor initiates coverage with “Overweight”, $65 PT, citing growth potential from launches, lunar landers and space intelligence

### Related Stocks

- [FLY.US - Firefly Aerospace](https://longbridge.com/en/quote/FLY.US.md)

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.