Vertical Aerospace price target raised to $16 from $15 at Canaccord

Canaccord raised the firm’s price target on Vertical Aerospace (EVTL) to $16 from $15 and keeps a Buy rating on the shares. The firm noted the company announced that it has reached an agreement with its primary creditor, Mudrick Capital Management, to add $180M in capital to the company’s balance sheet, including $50M in new funding reducing pressure on Vertical as it works through its certification program in the meantime.