Canaccord Genuity Group Issues Pessimistic Forecast for Vertical Aerospace (NYSE:EVTL) Stock Price

Vertical Aerospace (NYSE:EVTL) had its target price reduced by stock analysts at Canaccord Genuity Group from $16.00 to $13.50 in a report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 140.43% from the stock’s previous close.

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

Vertical Aerospace Trading Up 5.0 %

NYSE EVTL traded up $0.27 on Friday, hitting $5.62. The company’s stock had a trading volume of 1,821,209 shares, compared to its average volume of 722,115. The company’s 50-day moving average is $8.54 and its 200 day moving average is $37.26. Vertical Aerospace has a 1-year low of $3.55 and a 1-year high of $15.99.

Vertical Aerospace (NYSE:EVTL) last posted its quarterly earnings data on Friday, December 20th. The company reported ($1.92) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.34) by ($0.58). As a group, equities analysts forecast 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.