EHang initiated with a Buy at Jefferies

Jefferies initiated coverage of EHang (EH) with a Buy rating and $30.40 price target The firm says the low-altitude economy is “taking off” in China, with electric vertical take-off and landing as an integral part in urban air mobility. The total addressable market is expected to reach over $1.9 trillion by 2050, the analyst tells investors in a research note. Jefferies expects policy and technological catalysts to support development of the sector. EHang, as the only player in the world securing all approvals required, should be the biggest beneficiary in the space, contends Jefferies.