Analyst Amit Dayal from H.C. Wainwright maintained a Buy rating on Vertical Aerospace (EVTL – Research Report) and keeping the price target at $12.00.
Amit Dayal has given his Buy rating due to a combination of factors that highlight Vertical Aerospace’s potential for growth and progress towards certification. The company has a significant pre-order value of approximately £5 billion for around 1,500 aircraft, indicating strong market demand for its eVTOL aircraft. Additionally, Vertical Aerospace is diversifying its revenue streams by planning to offer ancillary services, such as after-sales and cloud services, which could provide recurring revenue.
Furthermore, the recent restructuring of the balance sheet and cash infusion are expected to support the company’s strategic focus on achieving key milestones in its Flight Path 2030 strategy. The successful completion of over 30 piloted test flights and the upcoming wing-borne flight testing, pending UK Civil Aviation Authority approval, are crucial steps towards the certification of the VX4 aircraft by 2028. These developments suggest that Vertical Aerospace is on track to meet its long-term goals, justifying the Buy rating.