Eve Holding price target lowered to $8.50 from $9 at Canaccord

Canaccord lowered the firm’s price target on Eve Holding (EVEX) to $8.50 from $9 and keeps a Buy rating on the shares. Eve Air on Monday announced that it has secured $94M in equity financing from its development partners and “financial investors” to support the continued development of its eVTOL aircraft. The addition of new investors to Eve’s cap table further reflects strong interest in the company, which has the full support and engineering and test resources of parent Embraer (ERJ) as it continues the development of its urban air mobility platform, the analyst tells investors in a research note.