flyExclusive initiated with a Buy at BTIG

BTIG analyst Marvin Fong initiated coverage of flyExclusive with a Buy rating and $9 price target. flyExclusive has successfully evolved from a wholesale operator into a “well-known, consumer-facing brand in private aviation” by leveraging its successful Jet Club program, the analyst tells investors. Over “just” eight years, flyExclusive has become the fifth largest private charter operator in the country and its “next act” is to leverage its fleet of about 100 aircraft to move into the fractional ownership business, the analyst added.