Firefly Aerospace shares surge 11.55% after-hours as Morgan Stanley analyst raises price target to $33 from $27.

Firefly Aerospace surged 11.55% in after-hours trading following a price target upgrade by Morgan Stanley analyst Kristine Liwag, who raised her target for the stock to $33 from $27 while maintaining an "equal weight" rating. The shares jumped past the revised target immediately after the announcement, driven by investor optimism over the analyst’s focus on Firefly’s valuation ahead of its Flight 7 launch in Q1 2026. Despite Liwag’s neutral stance and the stock’s elevated price-to-sales ratio, the move reflects heightened market interest in Firefly’s commercialization prospects and analyst-driven sentiment. Other news events, including a broader "overweight" analyst consensus and past intraday gains, were either less directly linked to the after-hours rally or reiterated existing information.