Embraer upgraded to Buy from Hold at TD Cowen

TD Cowen upgraded Embraer (ERJ) to Buy from Hold with a price target of $41, up from $26. The firm sees potential mid-teens annual revenue and adjusted EBITDA growth for the company through 2026 from all sectors with improving free cash flow. Embraer also has a large extended C-390 opportunity and underappreciated potential from Eve (EVEX), an urban air mobility business it created, the analyst tells investors in a research note.