Bill Peterson, an analyst from J.P. Morgan, maintained the Buy rating on Blade Air Mobility (BLDE – Research Report). The associated price target is $5.00.
Bill Peterson has given his Buy rating due to a combination of factors, notably Blade Air Mobility’s clear trajectory towards profitability and its successful margin expansion strategy. In his assessment, Blade’s recent quarterly performance aligned with expectations, while the company’s guidance for 2024 and 2025 signal a constructive path ahead. The company has seen robust growth, particularly in its Medical mobility sector, which is bolstered by a mix of existing and new customer contracts. Furthermore, Blade’s strategy of scaling up its dedicated aircraft fleet is expected to improve margins and leverage fixed costs more effectively.
The financial analyst also points out that Blade Air Mobility’s asset-light approach and selective capital expenditure will likely contribute to its margin accretive growth. With the potential for a shareholder returns program, improved margin assumptions, and accelerated profitability expectations, Peterson sees an attractive investment opportunity, especially in light of the stock’s recent price decline. His valuation takes into account Blade’s first-mover advantage in the Urban Air Mobility space and its agnostic approach to aircraft usage, which could be enhanced with the introduction of electric vertical takeoff and landing aircraft in the near future.
BLDE’s price has also changed moderately for the past six months – from $3.140 to $2.780, which is a -11.46% drop .
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Blade Air Mobility (BLDE) Company Description:
Experience Investment Corp is a blank check company.
Read More on BLDE:
- Blade Air Mobility Reports Financial Results for the Fourth Quarter Ended December 31, 2023
- Blade Air Mobility to Present at Upcoming Investor Conferences
- Blade Air Mobility opens investor Q&A platform ahead of Q4 release
- Blade Air Mobility to Present at Baird’s 2024 Vehicle, Technology and Mobility Conference
- Blade Air Mobility Announces Date for Fourth Quarter and Calendar Year Ending December 31, 2023 Earnings Release Conference Call
