EHang Holdings (EH) PT Lowered to $24.38 at Jefferies

Jefferies analyst Alan Lau lowered the price target on EHang Holdings (NASDAQ: EH) to $24.38 (from $30.40) while maintaining a Buy rating.

The analyst comments "EH reported 2Q25 Rev/adjusted NP of RMB147/9.4mn, up 44/683% YoY. GPM stayed stable YoY/QoQ at 62.6% in 2Q. eVTOL sales increased by 39% YoY to 68 units, but this is lower than required to meet original guidance. Mgmt cut FY25 rev guidance from RMB900m to RMB500mn, as: 1) co intends to focus on accumulating safe operation record in 2H; 2) the shortage of eVTOL operators limits its application for clients. Mgmt expects to launch public operation by YE25. "

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