EHang Stock Gains Favour with Morgan Stanley, “Share Price has 60 Percent Upside Potential”

EHang (EH) is back in favour with the movers and shak­ers of the glob­al stock mar­ket. The lat­est exam­ple comes from Mor­gan Stan­ley, who is bull­ish on the stock sug­gest­ing an over­weight rat­ing and a 60 per­cent upside poten­tial with the share price.

The finan­cial pow­er­house has ini­ti­at­ed cov­er­age with a price tar­get of USD27.50 per share or close to a 60 per­cent rise from its clos­ing price over the week­end of USD17.38. EH stock has risen 31.45 per­cent dur­ing the last six months.

Cindy Huang, a Mor­gan Stan­ley Ana­lyst, wrote in a note to clients, “We view EHang as a pio­neer in the urban air mobil­i­ty mar­ket achiev­ing the world’s first award­ed Type Cer­tifi­cate along­side val­i­dat­ed prod­ucts and access to a mul­ti-tril­lion ren­min­bi mar­ket in Chi­na.”

This pos­i­tive cov­er­age of EH stock sent the price up 10 per­cent on Mon­day. It occurred after more than 2.7 mil­lion shares were trad­ed. This is well above the company’s dai­ly aver­age trad­ing vol­ume of around 1.5 mil­lion.

Also, it is worth not­ing the ana­lyst con­sen­sus price which pre­dicts a future USD29 per share.

The clos­ing Wednes­day EH share price (May 8th) was USD17.73.

(Cred­it: Mar­ket­Beat)

For more infor­ma­tion

https://www.ehang.com/

(Top image: EHang)

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