Analyst Austin Moeller of Canaccord Genuity maintained a Buy rating on Vertical Aerospace, retaining the price target of $11.00.
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Austin Moeller has given his Buy rating due to a combination of factors that highlight Vertical Aerospace’s promising future in the eVTOL industry. The company’s strategic approach to achieving type certification for its VX4 aircraft with a relatively modest $700 million in additional funding is a key factor. This financial requirement is notably lower than that of its competitors, showcasing Vertical’s efficient cost management and prudent operational strategy.
Moreover, Vertical Aerospace’s FlightPath 2030 strategy outlines ambitious yet achievable targets, including accelerated aircraft deliveries and an earlier cash breakeven point by 2029. The company anticipates significant revenue growth, projecting $1 billion in annual revenues by 2030, with a substantial portion stemming from VX4 sales. These factors, combined with a favorable market outlook and the potential to revolutionize air travel, underpin Moeller’s optimistic Buy rating for Vertical Aerospace.
In another report released on September 18, Needham also reiterated a Buy rating on the stock with a $9.00 price target.
EVTL’s price has also changed moderately for the past six months – from $4.370 to $5.730, which is a 31.12% increase.