Innovative Aerospace Summit: EVE Efficiently Moving Toward 2028 Certification

研报英文原文证据摘录

Innovative Aerospace Summit: EVE Efficiently Moving Toward 2028 Certification

USA | Aerospace & Defense Electronics

Eve Holding, Inc. EquityJuneResearch11, 2026

FLASH NOTEInnovative Aerospace Summit: EVE Efficiently

RATING BUYMoving Toward 2028 Certification

PRICE $2.64^

We hosted Eve's CFO, Eduardo Couto, at our 4th annual Jefferies Innovative

Aerospace Summit. Key takes include: 1) Eve is pursuing a capital-light OEM PRICE TARGET | % TO PT $7.00 | +165%

model for urban eVTOLs, supported by Embraer; 2) certification remains 52W HIGH-LOW $7.70 - $2.34

targeted for 2028 in Brazil and the U.S.; 3) 2,700-aircraft order book is supported FLOAT (%) | ADV MM (USD) 28.7% | 3.07

by 27 customers; 4) ~$600MM cash should fund through certification, with FCF MARKET CAP $861.2M

+ targeted 2-3 years post certification. TICKER EVEX ^Prior trading day's closing price unless otherwise

noted.

Eve Is Developing A Focused UAM Platform. Eve is developing an electric vertical takeoff and

landing aircraft for urban air mobility, with a broader ecosystem approach that includes aircraft

manufacturing, services, and support, and an urban air traffic management solution. The model is

positioned as a traditional OEM structure: design, certify, manufacture, sell, and support the aircraft

without operating the aircraft or competing with customers. Embraer support remains central to the

strategy, with access to aerospace expertise, engineering resources, and customer relationships.

Lift-Plus-Cruise Design Prioritizes Affordability. The aircraft uses a lift-plus-cruise architecture

focused on safety, lower noise, and lower operating and maintenance cost versus helicopters.

The vehicle is designed around urban missions of ~60 miles, with potential to complete 50-60

short flights per day.