Surf Air Mobility Inc (SRFM) PT Raised to $4 at Piper Sandler

Piper Sandler analyst Alex Potter raised the price target on Surf Air Mobility Inc (NYSE: SRFM) to $4.00 (from $3.00) while maintaining a Overweight rating.

The analyst commented: "We are adjusting our model to reflect 1Q25 results and FY25 guidance. SRFM expects FY25 revenue of ~$100M (no change), representing a y/y decline of 16%. Falling revenue is due to management's decision to exit unprofitable routes. SRFM's transformation plan should enable profitable growth in the future, and we reiterate our Overweight rating. Our price target (PT) is now $4, vs. $3 previously."

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