D. Boral Capital analyst Jesse Sobelson initiated coverage on Vertical Aerospace Ltd. EVTL on Thursday with a Buy rating and a price forecast of $15.

The analyst notes that the company has recently positioned itself as one of the few remaining European-based players in the increasingly competitive electric vertical takeoff and landing (eVTOL) aircraft market.

While some European competitors have struggled financially, EVTL recently secured strategic investments and provided an updated long-term roadmap in late 2024, adds the analyst.

Also, the analyst notes that EVTL's proactive collaboration with regulators and its advanced stage in the certification process position it well to meet key milestones related to its Flightpath 2030 strategy.

The company's progress in the certification process, strategic partnerships with Honeywell, Leonardo, and GKN Aerospace, and a solid IP portfolio strengthen its market position, adds the analyst.

Sobelson says that with a projected $1 trillion total addressable market by 2040, EVTL is well-positioned to capture a significant share, making its current valuation an attractive entry point for investors in the urban air mobility (UAM) sector.

The analyst estimates EPS of £(1.24) for 2025 and £(1.07) for 2026.

Price Action: EVTL shares traded higher by 0.71% at $3.656  at the last check Thursday.

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