Vertical Aerospace price target lowered to $1.50 from $1.75 at Canaccord

Canaccord analyst Austin Moeller lowered the firm’s price target on Vertical Aerospace to $1.50 from $1.75 and keeps a Buy rating on the shares. The firm noted the ccompany filed a 6-K indicating that the company has not received the second $25M tranche of the committed equity investment from Founder Stephen Fitzpatrick and so reduced the target until there is better clarity into the status of the second tranche of the equity investment.