Canaccord raised the firm’s price target on Vertical Aerospace (EVTL) to $10.50 from $9.50 and keeps a Buy rating on the shares. The firm said despite some rain-induced delays in the Cotswolds, Vertical Aerospace delivered on its promise to demonstrate full piloted transition flight, which is generally considered to be the greatest hurdle in tiltrotor development. The firm views this achievement as a material de-risking event for investors that verifies the VX4’s performance characteristics in advance of CDR for the Valo.
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