H.C. Wainwright initiated coverage of Vertical Aerospace (EVTL) with a Buy rating and $12 price target The company specializes in designing and manufacturing zero-emission electric vertical take-off and landing aircraft for the advanced air mobility and urban air mobility market, the analyst tells investors in a research note. The firm believes the assembly of the company’s third VX4 prototype is now underway, and it is preparing for the piloted wing-borne flight that could be the first such test for a full-scale tilt rotor eVTOL. Vertical Aerospace has a “well-defined commercialization strategy,” contends H.C. Wainwright.
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