Vertical Aerospace price target lowered to 75c from $1.50 at Barclays

Barclays analyst David Zazula lowered the firm’s price target on Vertical Aerospace to 75c from $1.50 and keeps an Underweight rating on the shares. The analyst says electric vertical take-off and landing producers are making real capital and certification progress and investors are asking more detailed questions, “suggesting a more mature capital market.” However, material risks remain for the largely pre-revenue industry, the analyst tells investors in a research note. The firm sees Joby leading, and Archer not far behind, with persistent capital needs beyond current commitments for other developers.