From Investing.com: 2024-05-28 03:57:02

Bernstein SocGen Group analysts downgraded Surf Air Mobility Inc (SRFM) from Outperform to Market Perform with a price target of $0.40 (from $3.62). The company is working on electrifying aircraft and creating a digital marketplace for Regional Air Mobility. Technology advancements could tap into a substantial addressable market worth $12-18 billion by 2035. However, SRFM is facing financial challenges with a bad capital structure and burning $16-18 million quarterly. Despite committed financing, dilution from recent stock performance remains a concern.



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