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Investing.com - D. Boral Capital has initiated coverage on Vertical Aerospace Ltd. (NYSE:EVTL) with a Buy rating and a $15.00 price target, representing significant upside from the current price of $4.96. According to InvestingPro data, analyst targets for EVTL range from $2.01 to $15.27, with the company currently showing a weak financial health score.
The coverage assumption follows Vertical Aerospace’s first-half results reported in early August, which D. Boral Capital described as showing "encouraging operational momentum."
The firm highlighted accelerated piloted wingborne flight test progress and strengthened supply chain maturity as key developments during the first half of the year.
D. Boral Capital noted that Vertical Aerospace’s partnership developments and flight testing milestones are establishing a foundation for certification and commercial scalability.
Vertical Aerospace is developing electric vertical takeoff and landing (eVTOL) aircraft, positioning itself in the emerging urban air mobility market.
In other recent news, Vertical Aerospace has announced the completion of a $60 million public offering, selling 12 million ordinary shares at $5.00 each. The company has also formed a strategic partnership with Aciturri Aerostructures to build the airframe for its VX4 electric aircraft. This agreement includes the supply of the entire airframe and engineering responsibilities for several structural components. Vertical Aerospace achieved a milestone by completing the world’s first airport-to-airport piloted flight with a full-scale, winged tilt-rotor eVTOL aircraft. The VX4 prototype covered 17 miles, reaching speeds of 115 mph and an altitude of 1,800 feet. Analysts at Needham initiated coverage on Vertical Aerospace with a Buy rating and a $9.00 price target, citing its progress in a supply-constrained market. Meanwhile, Canaccord Genuity reduced its price target to $11.00 from $13.50, maintaining a Buy rating due to the dilution effect of the recent offering. The funds raised are intended to advance development and testing efforts for the VX4 eVTOL aircraft.
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