Vertical Aerospace downgraded to Neutral from Overweight at Cantor Fitzgerald

Cantor Fitzgerald downgraded Vertical Aerospace (EVTL) to Neutral from Overweight without a price target While Cantor is encouraged by the recent two-way Piloted transition flight of Vertical Aerospace’s prototype and views that as a material step toward certification, Vertical Aerospace is likely to face near-term capital constraints despite its recently announced financing package of up to $850M, which doesn’t full address the near-term capital needed, the analyst tells investors in a research note.