Barclays analyst David Zazula downgraded Lilium to Underweight from Equal Weight with a price target of $1, down from $2. While Lilium maintains significant long-term potential if regulatory approval can be achieved, the potential for further dilution "warrants caution," Zazula tells investors in a research note. Given the company’s "sizable unfunded spending needs through certification," equity holders should be conscious of additional issuance and corresponding reduction in ownership stake, says the analyst.
Published first on TheFly
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