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

Vertical Aerospace (NYSE:EVTL) had its price objective dropped by Canaccord Genuity Group from $16.00 to $13.50 in a note issued to investors 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 previous close.

Other equities analysts have also recently issued research reports about the company. Raymond James reaffirmed a “market perform” rating on shares of Vertical Aerospace in a report on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft lowered their price target 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. Finally, Barclays raised 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.

Vertical Aerospace Stock Performance

Shares of Vertical Aerospace stock opened at $5.62 on Friday. Vertical Aerospace has a 1 year low of $3.55 and a 1 year high of $15.99. The company’s fifty day simple moving average is $8.56 and its 200-day simple moving average is $36.75.

Vertical Aerospace (NYSE:EVTL) last posted its quarterly earnings results on Friday, December 20th. The company reported ($1.92) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.34) by ($0.58). Equities analysts forecast that Vertical Aerospace will post -4.35 earnings per share 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.