Canaccord Genuity Group Lowers Vertical Aerospace (NYSE:EVTL) Price Target to $13.50

Vertical Aerospace (NYSE:EVTL) had its price objective lowered by research analysts at Canaccord Genuity Group from $16.00 to $13.50 in a report released on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 140.43% from the company’s current price.

Several other research analysts have also commented on EVTL. Barclays upped their price objective on shares of Vertical Aerospace from $0.75 to $2.00 and gave the stock an “underweight” rating in a report on Thursday, November 21st. Raymond James reiterated a “market perform” rating on shares of Vertical Aerospace in a report on Tuesday, November 26th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Vertical Aerospace from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, December 3rd.

Vertical Aerospace Stock Performance

Vertical Aerospace stock traded up $0.27 during mid-day trading on Friday, reaching $5.62. 1,821,209 shares of the company’s stock were exchanged, compared to its average volume of 722,115. The business’s fifty day simple moving average is $8.54 and its 200 day simple moving average is $37.26. Vertical Aerospace has a one year low of $3.55 and a one year high of $15.99.

Vertical Aerospace (NYSE:EVTL) last issued its earnings results on Friday, December 20th. The company reported ($1.92) EPS for the quarter, missing the consensus estimate of ($1.34) by ($0.58). As a group, analysts anticipate that Vertical Aerospace will post -4.35 EPS for the current year.

About Vertical Aerospace

Vertical Aerospace Ltd., an aerospace and technology company, engages in designing, manufacturing, and selling zero operating emission electric vertical takeoff and landing (eVTOL) aircraft for use in the advanced air mobility in the United Kingdom. It offers VX4, an eVTOL aircraft. Vertical Aerospace Ltd.