UPDATE: Piper Sandler Starts Lilium N.V. (LILM) at Overweight
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(Updated - September 16, 2021 9:03 AM EDT)
Piper Sandler analyst Alexander Potter initiates coverage on Lilium N.V. (NASDAQ: LILM) with an Overweight rating and a price target of $17, saying while early the payoff might be worth the wait.
The analyst commented, "In our experience, most investors haven't begun seriously thinking about "flying cars". But regardless, electric vertical takeoff and landing (eVTOL) aircraft are coming, and the sooner investors educate themselves, the better. With this in mind, we are initiating coverage of Lilium (LILM) with an Overweight rating and a DCF-based price target of $17 (~83% upside vs. today's closing price). This type of investment isn't for everyone; Lilium won't generate revenue for another few years, and more capital will almost certainly be required. Volatility seems likely. But for investors who like to dream big, we think Lilium could fundamentally reshape the transportation industry, and now is the time to do the work."
Shares of Lilium N.V. closed at $9.31 yesterday.
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