JPMorgan analyst Marcelo Motta initiated coverage of Eve Holding (EVEX) with an Overweight rating and $8 price target. Eve is a spin-off from Embraer (ERJ) focused on developing an electric vertical takeoff and landing aircraft, the analyst tells investors in a research note. The firm’s positive view on the company is supported by its "superior" potential orders of 2,800 units or around $8.3B, highest level among peers, and Eve’s support from Embraer, which holds an 89% stake in the company and is a service provider.
Published first on TheFly
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