Chris Pierce, an analyst from Needham, reiterated the Buy rating on BETA Technologies, Inc. Class A. The associated price target remains the same with $34.00.
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Chris Pierce has given his Buy rating due to a combination of factors that highlight BETA Technologies, Inc.’s strong position in the industry. The company has demonstrated significant technical expertise, particularly in owning and controlling technology that is crucial for the development of a sustainable aviation industry. This includes high-performance electric motors and multi-modal charging applications, which provide a comprehensive solution for customers.
Additionally, BETA Technologies is seen as a leader in the industry, with aircraft already deployed and a growing order book. The potential for further growth is supported by their industry-enabling technology and military applications, which could provide additional upside beyond current expectations. The $34 price target reflects a premium multiple compared to peers, justified by the company’s progress in achieving flight milestones and its promising outlook.
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 on December 2, Morgan Stanley also maintained a Buy rating on the stock with a $34.00 price target.