Cantor Fitzgerald initiated coverage of Vertical Aerospace (EVTL) with an Overweight rating and $8 price target The stock in early trading is up 7c to $4.74. The company has a diversified order book, three different revenue streams, and the highest degree of safety in the electric vertical takeoff and landing aircraft group, the analyst tells investors in a research note. Cantor says Vertical’s conditional pre-order book of over 1,500 aircraft is among the largest in the industry which could drive $6B in revenue over time. It believes the company’s recently announced 1,000-mile hybrid-electric vertical takeoff and landing program aimed at defense, cargo and long-range commercial missions significantly expands its addressable markets beyond urban air taxis.
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