Analyst Ronald Epstein of Bank of America Securities reiterated a Buy rating on BETA Technologies, Inc. Class A, boosting the price target to $37.00.
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Ronald Epstein has given his Buy rating due to a combination of factors demonstrating BETA Technologies’ strong position and potential for growth. The company showcased significant advancements in electric aviation, including diversified operations and new partnerships, which are propelling it forward. Epstein emphasized that the raise in price objective to $37 reflects enhanced revenue projections stemming from robust earnings and the solidification of partnerships.
Management’s transparency in providing key performance indicators (KPIs) for investors, coupled with promising outlooks for revenue and EBITDA, further supports this rating. Certification progress, production rates, and backlog metrics show ongoing progress that aligns with strategic goals, suggesting a promising ramp-up in operations. Moreover, notable milestones such as expanded flight testing and growth in charging network sessions indicate an accelerating trajectory for BETA’s offerings in the market.
In another report released on December 8, BTIG also reiterated a Buy rating on the stock with a $40.00 price target.
Based on the recent corporate insider activity of 14 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BETA in relation to earlier this year.