B. Riley analyst Mike Crawford last night initiated coverage of Lilium with a Buy rating and $3 price target. The analyst says Lilium went public with a “grand vision but underfunded business plan” to provide safe, clean, and efficient regional air mobility with its electric vertical take-off and landing jet aircraft promising greater potential range than those proposed by rotor-powered competitors focused on urban air mobility. The firm says the company is revolutionizing sustainable, high-speed regional air mobility and is “on the cusp” of commercialization, having just secured $292M in gross receipts in multistage financing transactions.
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