Beta Technologies initiated with a Buy at Needham

Needham analyst Chris Pierce initiated coverage of Beta Technologies (BETA) with a Buy rating and $34 price target The firm says Beta is a pure play electric aircraft manufacturer supporting a wide range of customer missions with its Alia family of aircraft driving order book strength across cargo and logistics, medical, defense and passenger flight. The shares warrant a premium multiple given the company’s “industry pole position,” the analyst tells investors in a research note.