Chris Pierce, an analyst from Needham, has initiated a new Buy rating on BETA Technologies, Inc. Class A (BETA).
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Chris Pierce has given his Buy rating due to a combination of factors that highlight BETA Technologies, Inc. Class A’s promising position in the electric aircraft industry. The company is a leading original equipment manufacturer (OEM) in the electric aircraft sector, offering a diverse range of aircraft through its Alia family, which caters to various customer needs including cargo, logistics, medical, defense, and passenger services.
BETA’s achievements in aircraft development, along with its vertical integration and pioneering technology, position it as an early leader in a market with a total addressable market (TAM) of $1 trillion. The company’s ability to offer lower operating costs per hour is expected to drive sustained demand, further bolstered by a regulatory environment that increasingly supports electric aircraft advancements. The $34 price target reflects a valuation that is 20 times the estimated adjusted EBITDA for 2030, discounted back, and is justified by BETA’s strong industry standing, which reduces risk compared to its OEM peers.
According to TipRanks, Pierce is an analyst with an average return of -7.4% and a 35.24% success rate. Pierce covers the Consumer Cyclical sector, focusing on stocks such as Carvana Co, CarMax, and Sonic Automotive.
In another report released today, Morgan Stanley also initiated coverage with a Buy rating on the stock with a $41.00 price target.