Raymond James analyst Savanthi Syth downgraded Vertical Aerospace (EVTL) to Underperform from Market Perform without a price target The firm is concerned about Vertical’s ability to raise capital at this “critical juncture.” The market has “soured” on higher risk ventures lately, the analyst tells investors in a research note. Raymond James forecasts Vertical’s liquidity only through mid-June. Moreover, Archer’s recent announcement of basing its U.K. engineering hub in Bristol increases the risk of Vertical losing engineering talent, adds Raymond James.
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