BETA Technologies (BETA), the electric aircraft maker, gained about 8% after announcing it will supply motors to Eve Air Mobility (EVEX), a rival backed by Embraer (ERJ). The deal could be worth up to one billion dollars over ten years. Eve picked BETA to provide the electric pusher motors for its next test aircraft and for its first production models. The move helps Eve build a stronger supply chain as it works on its air taxi, which has about 2,800 orders.
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For a young sector that still earns little steady revenue, a deal of this size stands out. It helps BETA build trust and puts it in a stronger spot as the air-taxi market gets closer to launch.
The Eve deal also comes just a day before BETA reports earnings on December 4. Although BETA went public only recently, the company is already getting strong support. In September, GE Aerospace (GE) invested 300 million dollars in BETA, showing that major players see value in the company’s work on motors, batteries, and charging tools.
Analysts Turn Positive on BETA Stock
Wall Street has also taken notice. Morgan Stanley said BETA looks like an early leader in electric aircraft parts. The firm even compared BETA to Tesla (TSLA), noting the company’s growing strength as a supplier in the electric aircraft space.
Meanwhile, Goldman Sachs (GS) also began coverage with a “Buy” rating and said BETA looks the strongest in the air-mobility group. The bank said BETA’s motor and battery work, along with its early supply deals, give it a more solid way to bring in revenue. In contrast, Goldman rated Joby Aviation (JOBY) as “Sell” due to high costs and a rich valuation. Archer Aviation (ACHR) was rated “neutral,” as the bank sees progress but less upside potential from current levels.
Wall Street’s Take on BETA, ACHR, and JOBY Stocks
TipRanks’ Stock Comparison Tool shows a clear split among the three air-taxi names. Archer carries a Moderate Buy, while Joby sits at Hold. BETA leads the group with a Strong Buy rating.
Analysts see the most upside in Archer, with a price target of $12.17, or about 59% above current levels. Joby’s target of $14.40 suggests only 4% upside. BETA’s average target of $37.43 points to about 32% upside from here.
