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Investing.com - Canaccord Genuity raised its price target on Surf Air Mobility Inc (NYSE:SRFM) to $3.75 from $3.00 on Monday, while maintaining a Hold rating on the stock. The new target represents a 15% downside from the current trading price of $4.43, with the $189.72 million market cap company showing significant price volatility according to InvestingPro data.
The research firm cited encouragement from Surf Air’s progress in right-sizing passenger flight operations and reducing the overall cost structure of the business.
Canaccord Genuity noted that Surf’s OperatorOS has improved flight performance across all existing routes in all regions, while retirement of legacy aircraft and capital investments have reduced maintenance cost per hour.
The firm highlighted that Surf Air’s completion factor has reached 95.6%, which management indicated is now stable and carried over into July.
Canaccord Genuity believes investors’ primary focus continues to be the capitalization of the business, and considers its price target appropriate relative to its rating, given the high levels of volatility in SRFM’s stock price.
In other recent news, Surf Air Mobility reported its second-quarter 2025 earnings, which showed a notable shortfall in revenue expectations. The company posted a revenue of $27.4 million, significantly below the anticipated $49 million. Earnings per share were reported at -$1.34, indicating ongoing challenges for the company. Despite this financial miss, the stock experienced a slight increase in aftermarket trading. These developments are crucial for investors who are closely monitoring the company’s financial health. The earnings report highlights the challenges Surf Air Mobility faces in meeting market expectations. Analysts and investors will likely pay attention to how the company addresses these issues in future quarters. As these are recent developments, stakeholders may look for further updates on the company’s strategy and performance.
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