Eve Holding price target lowered to $5.50 from $9 at JPMorgan

JPMorgan analyst Marcelo Motta lowered the firm’s price target on Eve Holding to $5.50 from $9 and keeps an Overweight rating on the shares. The analyst cites dilution from the company’s recent capital raise and a more conservative approach regarding the ramp-up of its operations for the target cut. However, the firm believes Eve has a leadership position in the electric vertical take-off and landing industry due to its “superior backlog.”