In a report released yesterday, Austin Moeller from Canaccord Genuity maintained a Buy rating on Eve Holding (EVEX – Research Report), with a price target of $9.00.
Austin Moeller has given his Buy rating due to a combination of factors that indicate Eve Holding’s promising future in the eVTOL (electric Vertical Takeoff and Landing) aircraft market. The company’s progress on the assembly of the first prototype aircraft and the ongoing development work are on track, which is a positive sign for the company’s operational capabilities. Additionally, Eve Holding’s financial position, with significant liquidity to support operations until late 2025 and the potential for additional financing, suggests a strong financial foundation to continue its development efforts.
Moreover, Moeller’s confidence is bolstered by Eve’s sizable backlog of 2,900 aircraft, which, with an updated average selling price, values the backlog at $14.5 billion. This backlog, combined with the company’s strategic relationships and the anticipated certification timeline, position Eve well in the competitive eVTOL space. Embraer’s backing and the potential for aftermarket support services further strengthen Eve’s market proposition. The calculated price target, based on a discounted cash flow analysis, underscores the analyst’s belief in the company’s valuation and future growth prospects.
EVEX’s price has also changed moderately for the past six months – from $7.360 to $5.580, which is a -24.18% drop .
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Eve Holding (EVEX) Company Description:
Zanite Acquisition Corp is a blank check company.
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