H.C. Wainwright analyst Amit Dayal has maintained their bullish stance on EVTL stock, giving a Buy rating yesterday.
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Amit Dayal has given his Buy rating due to a combination of factors that highlight Vertical Aerospace’s strategic positioning and progress toward commercialization. The company is advancing its certification and testing milestones, which are crucial steps toward achieving commercial operations. The successful completion of piloted wing-borne flights and the preparation for a piloted transition flight by the end of 2025 are seen as significant catalysts that could de-risk the certification process.
Additionally, Vertical Aerospace is strengthening its manufacturing capabilities through partnerships, such as the agreement with Aciturri Aerostructures for airframe production. The company’s focus on battery technology is expected to drive future cash flows and customer retention, with plans for a gigafactory build-out anticipated. Furthermore, Vertical Aerospace’s collaboration with the UK Civil Aviation Authority is likely to facilitate a smoother certification process. The company’s unique aircraft design and development of a longer-range hybrid version position it well in the market, particularly with potential defense-related demand from Europe’s increased military spending. With £104M in cash and equivalents, the company is well-funded to meet its operating needs.
According to TipRanks, Dayal is an analyst with an average return of -6.2% and a 33.47% success rate. Dayal covers the Industrials sector, focusing on stocks such as Joby Aviation, Vertical Aerospace, and Archer Aviation.
In another report released yesterday, Needham also reiterated a Buy rating on the stock with a $9.00 price target.