Needham Highlights Vertical Aerospace’s (EVTL) Execution Strengths Following Site Visit to UK Facilities

Vertical Aerospace Ltd. (NYSE:EVTL) is one of the best emerging technology stocks to invest in. On December 15, Needham raised the firm’s price target on Vertical Aerospace to $11 from $9 while keeping a Buy rating on the shares. Following a two-day site visit to the company’s battery and aircraft testing facilities, the firm expressed high confidence in both near-term and long-term milestones. The firm also highlighted the company’s progress in piloted transition flights and hybrid aircraft development as key execution strengths.

In other news, on December 10, Vertical Aerospace officially revealed Valo, which is the company’s new commercial electric vertical take-off and landing/eVTOL aircraft. Succeeding the VX4 prototype, Valo features a more advanced, aerodynamic design informed by thousands of data points from the company’s piloted test program and direct feedback from global airline partners. Developed alongside industry leaders like Honeywell, Syensqo, and Aciturri, the aircraft introduces an under-floor battery system, a redesigned wing and propeller architecture, and full certifiable redundancy to meet the most stringent safety requirements.

Needham Highlights Vertical Aerospace's (EVTL) Execution Strengths Following Site Visit to UK Facilities

Valo is engineered to fly up to 100 miles at speeds reaching 150 mph with zero operating emissions. It targets an airliner-level safety certification with the UK Civil Aviation Authority and the European Union Aviation Safety Agency by 2028. This initiative marks a historic return to the UK designing and manufacturing whole commercial aircraft for the first time in over three decades. According to a report by Frontier Economics, Vertical’s operations are projected to contribute £3 billion annually to the UK economy and create over 2,000 high-skilled jobs by 2035. Early commercial routes for the aircraft are expected to focus on high-demand airport-to-city center connections.

Vertical Aerospace Ltd. (NYSE:EVTL) is an aerospace and technology company that designs, manufactures, and sells zero operating emission electric vertical takeoff and landing/eVTOL aircraft for use in the advanced air mobility market in the UK.

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Disclosure: None. This article is originally published at Insider Monkey.