In a report released yesterday, Austin Moeller from Canaccord Genuity maintained a Buy rating on Lilium (LILM – Research Report), with a price target of $3.00.
Austin Moeller has given his Buy rating to Lilium’s stock (LILM) due to a combination of factors. Among them is the progress made by the company in the construction of its Jet eVTOL aircraft. Lilium recently announced that high-voltage electrical harnesses for the aircraft have been manufactured by suppliers GKN Aerospace and Rosenberger, a development that follows prior announcements about the initiation of assembly for the Jet prototype’s electric propulsion system. Furthermore, Lilium is also moving forward with the fuselage assembly for the first of seven prototype Jet airframes at supplier Aciturri’s facility in Spain. The company plans to use all seven aircrafts to complete type certification with EASA and FAA.
Another factor for Moeller’s Buy rating is the company’s financial outlook. The timely initiation of manned flights for the Jet eVTOL is seen as a crucial milestone for Lilium as it is expected to generate significant pre-delivery payments from its 745-unit backlog once the aircraft shows successful piloted demonstrations. The company’s reported cash balance of about €354M, along with up to approximately $100M in supplemental capital expected from the German government and German VCs, is believed to be sufficient to bridge the gap until the first piloted Jet flights. Moeller also views the company’s current market cap of approximately $347M as undervalued considering Lilium’s technical progress on Jet prototypes and its completed planned equity raise. His $3 PT on LILM is based on a DCF through 2035.
According to TipRanks, Moeller is an analyst with an average return of -18.5% and a 31.88% success rate. Moeller covers the Technology sector, focusing on stocks such as Intuitive Machines, Archer Aviation, and Hudson Tech.
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Lilium (LILM) Company Description:
Qell Acquisition Corp is a blank check company.
Read More on LILM:
- First high voltage electrical harnesses roll off the line for the all-electric Lilium Jet
- Lilium Starts Assembly of the Lilium Jet’s Revolutionary Electric Propulsion System
- Lilium starts assembly of Lilium Jet’s electric propulsion system
- LILM Upcoming Earnings Report: What to Expect?
- Lilium Marks Significant Milestone with the Commencement of Fuselage Assembly for its Lilium Jet
