Eve Holding (EVEX) Reiterated at Overweight by Cantor Fitzgerald After 50th Test Flight

Cantor Fitzgerald analyst Andres Sheppard reiterated an Overweight rating and $6.00 price target on Eve Holding Inc. (NYSE: EVEX).

The analyst commented, "On 4/9, EVEX announced it had successfully completed its 50th test flight, a material increase from the 28 flights it announced previously on its 4Q earnings call. For this year, management is targeting ~300 flights as it continues its path towards Type Certification and Commercialization. As part of its flighttest campaign, Eve plans to increase aircraft speed and monitor energy management and stability, prior to full transition flights expected this year. EVEX's eVTOL aircraft will be equipped with eight rotors, two empennages, one pusher, four-blade rotors, and a capacity to carry up to four passengers plus a pilot, and travel up to 60 miles (~100 kilometers) in range. EVEX began its test-flight campaign in December when it completed the first flight of its full-scale, uncrewed eVTOL prototype in Brazil. Separately, EVEX is targeting the manufacture 6 ANAC-conforming aircraft (Brazil's Civil Aviation Agency) and begin production this year."

For an analyst ratings summary and ratings history on Eve Holding Inc. click here. For more ratings news on Eve Holding Inc. click here.

Shares of Eve Holding Inc. closed at $2.70 yesterday.

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