Bullish indicating open at $55-$60, IPO prices at $37
On Thursday, Jefferies analysts raised the price target for Eve Holding Inc. (NYSE: NYSE:EVEX) stock to $7.00 from $6.00, while maintaining a Buy rating. Currently trading at $5.07, the stock has shown strong momentum with a 19% gain over the past six months, according to InvestingPro data. The decision follows insights shared during Jefferies’ third annual eVTOL Summit, where Eve’s CFO, Edwardo Couto, participated.
During the summit, several key developments were highlighted. Eve Holding anticipates conducting its first unmanned flight tests in the summer of 2025, with certification expected in early second half of 2027. The company, currently valued at $1.52 billion, has a backlog of approximately 2,800 electric vertical takeoff and landing (eVTOL) aircraft, with over 600 of these being firm orders.
Eve Holding’s production capabilities were also discussed. The company operates a modular facility in Brazil capable of producing up to 480 eVTOLs annually, which could generate approximately $3 billion in annual revenue.
Financially, Eve Holding concluded the first quarter of 2025 with $411 million in available liquidity. This amount is expected to support the company’s operations through 2026, according to Jefferies analysts.
The updates from the summit and the financial outlook contributed to Jefferies’ decision to adjust the price target for Eve Holding stock.
In other recent news, Eve Holding Inc. reported a net loss of $49 million for the first quarter of 2025. The company invested $44 million in research and development, focusing on its eVTOL (electric vertical takeoff and landing) aircraft, which has a pre-order backlog of 2,800 units valued at approximately $14 billion. Eve Holding also secured a $16 million grant from Brazil’s Finep to advance its eVTOL project in Brazil. Cantor Fitzgerald maintained an Overweight rating on Eve Holding, with a price target of $5, indicating confidence in the company’s long-term prospects despite potential risks. Additionally, the company announced the election of new directors and the ratification of KPMG LLP as its independent auditor for 2025. Board member María Cordón resigned, with Paul Eremenko appointed to the Audit Committee in her place. These developments are part of Eve Holding’s strategic efforts to expand its urban air mobility market presence.
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