Canaccord analyst George Gianarikas lowered the firm’s price target on Surf Air Mobility (SRFM) to $3.50 from $3.75 and keeps a Buy rating on the shares. The firm said Q3/25 reflected another quarter of execution on the company’s broader transformation plan, highlighted by a second consecutive quarter of profitability in the airline business. The company remains persistent in strengthening its balance sheet by paying down debt though there is dilution risk from the convert, and now has cash runway capable of maintaining operations for at least the near to medium term.
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