Optimistic Buy Rating for Vertical Aerospace Following Successful Phase 2 Flight Tests

Canaccord Genuity analyst Austin Moeller maintained a Buy rating on Vertical Aerospace (EVTL – Research Report) yesterday and set a price target of $13.50.

Austin Moeller’s rating is based on Vertical Aerospace’s successful completion of Phase 2 of its piloted flight-testing campaign for the VX4 prototype aircraft. This phase included crucial piloted thrustborne flight tests, where the aircraft consistently demonstrated operational reliability without any system failures across over 30 test flights. The positive outcomes from these tests, including assessments of thrust levels, lift efficiency, and control responsiveness, have significantly bolstered confidence in the VX4’s capabilities.
With the company now gearing up for Phase 3, which focuses on piloted wingborne flight, Vertical Aerospace is poised to achieve essential milestones. Progressing to this next phase involves critical real-world testing scenarios under the supervision of the UK Civil Aviation Authority. Additionally, Vertical Aerospace’s strong financial position, reflected by the recent addition of $83.9 million in net cash, ensures that it is well-capitalized to advance its development goals. These factors collectively contribute to Austin Moeller’s optimistic Buy rating for Vertical Aerospace.