Cantor Fitzgerald reiterates Overweight rating on Eve Holding stock

Investing.com - Cantor Fitzgerald has reiterated an Overweight rating and $7.00 price target on Eve Holding Inc. (NYSE:EVEX), currently trading at $4.80, following the company’s Analyst Day at the New York Stock Exchange on October 14. According to InvestingPro data, analyst price targets for the stock range from $6.75 to $8.00.

During the event, executives from Eve Holding and parent company Embraer discussed Eve’s certification progress with ANAC, commercialization strategy, completed supplier selection, and customer order book. Management highlighted upcoming test flights scheduled to begin before year-end and Embraer’s track record in manufacturing and certifying more than 20 aircraft since 2000.

Eve Holding currently maintains approximately $2,800 orders in its pipeline and holds about $594 million in total liquidity. The company provided 2025 cash spend guidance of $200-250 million, which management indicated should fund operations for approximately three years.

Cantor Fitzgerald expressed encouragement regarding Eve’s recent mockup unveil, its first binding order, and the newly announced partnership with BETA, which the firm considers material. The company plans to begin its test-flight campaign later this year.

The research firm believes Eve Holding shares are currently undervalued over the medium to longer term and views current price levels as "a good entry point for investors."

In other recent news, Eve Holding Inc. reported a net loss for the second quarter of 2025, with earnings per share (EPS) of -0.21, which missed analyst expectations of -0.164. This resulted in a negative surprise of 28.05%. Additionally, Eve Holding has raised $230 million through a registered direct offering of common stock, which also included a dual listing on Brazil’s B3 stock exchange. As part of this capital raise, the company sold shares at $4.85 each to investors including BNDESPAR, Embraer, and other institutional investors.

In a related development, Eve Holding’s subsidiary, Eve UAM, LLC, entered a Master Services Agreement with Embraer S.A. to receive support in developing an industrialization project for electric vertical takeoff and landing aircraft (eVTOLs). Canaccord Genuity has lowered its price target for Eve Holding to $6.75 from $7.00, citing dilution impacts from the recent equity raise, while maintaining a Buy rating. Meanwhile, BTIG has assumed coverage of Eve Holding with a Neutral rating, continuing the stance of the previous analyst. These developments highlight the company’s ongoing efforts in expanding its financial and operational capabilities.

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