Analyst Amit Dayal of H.C. Wainwright reiterated a Buy rating on Eve Holding, retaining the price target of $8.00.
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Amit Dayal has given his Buy rating due to a combination of factors influencing Eve Holding’s future prospects. The company is advancing towards crucial certification flight testing milestones expected over the next 12–18 months, which are pivotal for its development. Management’s indication that a full-scale prototype could soon take flight, featuring enhancements like a new electric motor, adds to the positive outlook.
Furthermore, Eve Holding’s growing order book, highlighted by a significant firm order from Revo, a São Paulo-based flight operator, underscores the demand for its eVTOL and services business. This order, potentially worth $250 million, is expected to start generating revenue by 2027, aligning with the anticipated completion of the certification process. The company’s substantial liquidity position, combined with stable cash consumption projections, supports its operational needs. Additionally, favorable industry news and regulatory developments are seen as catalysts that could further de-risk Eve Holding’s business plan, justifying the Buy rating.