Vertical Aerospace initiated with an Outperform at William Blair

William Blair analyst Louis DiPalma initiated coverage of Vertical Aerospace (EVTL) with an Outperform rating without a price target The company is positioned to “capture significant share in the nascent but potentially large” urban air mobility market, the analyst tells investors in a research note. The firm says Vertical has “metaphorically flown under the radar” relative to peers. The company’s Valo electric vertical take-off and landing aircraft supports ample luggage capacity that is critical for airport passenger transportation, contends Blair. In bullish scenarios, there could be as many as 30,000 eVTOL aircraft in service globally by 2045, it adds.