Oppenheimer Initiates eVTOL Company Lilium At Outperform - Read Why
Benzinga
Sep. 28, 2021, 07:20 AM
- Oppenheimer analyst Colin Rusch initiated coverage of Lilium NV (NASDAQ:LILM) with an Outperform rating and a price target of $24, implying an upside of 126.2%.
- Rusch views Lilium as a leading player in the emerging electric vertical takeoff and landing, or eVTOL, space and thinks the company is well-positioned for "outsized market share in a disruptive industry."
- The analyst further says that he is encouraged by the "thoroughness" of the company's certification, design, and supply chain efforts and cites Lilium's differentiated technology, which he thinks positions it for safety and duty cycle advantages.
- Recently, Tencent Mobility subsidiary of Tencent Holdings Limited (OTC:TCEHY) filed 13D showing a 29.3% stake in Lilium.
- Price Action: LILM shares are trading higher by 6.97% at $11.35 during the premarket session on Tuesday.
