EHang Holdings Ltd (EH) stock surged 5.61% in pre-market trading on Monday, following a significant upgrade from Deutsche Bank. The Chinese autonomous aerial vehicle (AAV) technology company's shares are attracting investor attention after the positive analyst action.
Deutsche Bank raised its rating on EHang from Hold to Buy, citing an attractive entry point after a recent selloff. While the bank adjusted its price target slightly downward from $22 to $20, the upgrade still signals confidence in EHang's potential. This new target suggests substantial upside from the stock's previous closing price.
The upgrade aligns with the overall positive sentiment among analysts covering EHang. According to FactSet, the company maintains an average rating of Buy, with a mean price target of $28.02. This consensus target indicates that analysts see significant growth potential for EHang in the coming months, further supporting the pre-market rally.
Investors are likely responding to the combination of the Deutsche Bank upgrade and the generally bullish analyst outlook, driving the stock's pre-market surge. As the market opens, all eyes will be on EHang to see if this momentum carries through the regular trading session.
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