Surf Air Mobility initiated with Buy, $3 target at Canaccord

Canaccord initiated coverage of Surf Air Mobility with a Buy rating and $3 price target. Surf Air is one of few aviation companies in a “unique position to finally create” a viable regional air mobility market, the analyst tells investors in a research note. By developing hybrid and electric powertrains to modify existing aircraft, Surf has created a viable path to lower operating costs enough to make regional air mobility travel economically attractive, says the firm.