Blade Air Mobility Initiated With Overweight Rating At JPMorgan

Blade Air Mobility Inc. BLDE was initiated at JPMorgan by analyst Bill Peterson with an Overweight rating and a price target of $16, implying an upside of 57.95%.
Peterson states that Blade is a "first mover" in urban air mobility and has "strong" growth momentum to accelerate rising brand awareness and increased use of on-demand and scheduled flight services.
Additionally, he believes as an agnostic user of aircraft, Blade's model does not depend on the success of anyone or a handful of electric vertical aircraft companies and says Blade might emerge as the leader of what can be considered "ride-sharing in the skies."
Earlier today, the company announced the acquisition of Trinity Air Medical for an upfront purchase price of ~$23 million, creating a nationwide, multi-modal organ transport platform.
Price Action: BLDE shares are trading higher by 18.54% at $10.42 on the last check Thursday.

Analyst Calendar