Vertical Aerospace price target raised to $15 from $12 at H.C. Wainwright

H.C. Wainwright raised the firm’s price target on Vertical Aerospace (EVTL) to $15 from $12 and keeps a Buy rating on the shares. Last Friday’s Executive Order accelerates market development for electric vertical take-off and landing and drones within the public safety, defense, and military verticals, the analyst tells investors in a research note. The firm believes the expanding use of drones in the Russia-Ukraine conflict is compelling national defense interests, globally, to significantly expand the inclusion of drones and eVTOLs in their security infrastructure. H.C. Wainwright’s long-term projections now more meaningfully include revenue contributions from these applications. It believes Vertical is one of the key leaders in developing a hybrid-electric aircraft with the goal of serving needs in these areas.