#3 - EHang Holdings (NASDAQ:EH)
The flying car industry is international in scope. As you might expect, China is one of the largest markets, which is why you should consider EHang Holdings Limited (NASDAQ: EH). In April 2024, the company’s EH216-S pilotless eVTOL aircraft successfully completed its first autonomous flight in Abu Dhabi, the company’s first flight in the state.
Investors should note that EHang has received approval through the Civil Aviation Administration of China (CAAC). This is not the same as the FCC in the United States, and industry observers note that the guidelines for approval by the CAAC are not as stringent as those of the FCC.
Nevertheless, the approval does mean the company is in the production phase and is generating revenue. EHang is not yet profitable, but the company is ahead of the industry. That’s reflected in analyst sentiment. In early April, Morgan Stanley (NYSE: MS) initiated coverage on EHang and gave EH stock an Overweight rating with a $27.50 price target that marks a 58% upside from the stock’s price on May 6, 2024.
About EHang
EHang Holdings Limited operates as an autonomous aerial vehicle (AAV) technology platform company in the People's Republic of China, East Asia, West Asia, Europe, and internationally. It designs, develops, manufactures, sells, and operates AAVs, as well as their supporting systems and infrastructure for various industries and applications, including passenger transportation, logistics, smart city management, and aerial media solutions.
Read More - Current Price
- $11.96
- Consensus Rating
- Buy
- Ratings Breakdown
- 3 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $26.67 (123.0% Upside)
