UPDATE: Deutsche Bank Starts Vertical Aerospace Ltd. (EVTL) at Hold

(Updated - April 11, 2022 6:51 AM EDT)

Deutsche Bank analyst Edison Yu initiates coverage on Vertical Aerospace Ltd. (NYSE: EVTL) with a Hold rating and a price target of $9.00.

The analyst comments "Having witnessed the evolution of battery electric cars from a niche market to the foundation of every automaker’s future relevance, we believe the aviation industry is similarly ripe for generational disruption. The way we fly has structurally remained the same for the last 50 years and, in our view, this will change by the end of the decade driven by society’s desire to reduce what we refer to as the “3Cs”: congestion, cost, and carbon. By using the “third dimension” in the sky, a properly designed aircraft can serve high-density routes much more quickly at a very low cost (orders of magnitude cheaper/quieter), all while reducing the industry’s CO2 emissions. In short, we envision the conventional helicopter ultimately becoming redundant and small quiet electric aircraft being used regularly in large metro areas."

For an analyst ratings summary and ratings history on Vertical Aerospace Ltd. click here. For more ratings news on Vertical Aerospace Ltd. click here.

Shares of Vertical Aerospace Ltd. closed at $7.29 yesterday.

You May Also Be Interested In

• Evercore ISI Upgrades Juniper Networks (JNPR) to Outperform
• Constellation Software (CSU:CN) (CNSWF) PT Raised to Cdn$3,000 at RBC Capital
• Nongfu Spring Co Ltd (9633:HK) (NNFSF) PT Raised to HK$46.20 at Jefferies