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BUZZ-BETA surges after Amazon discloses stake

Reuters
Yesterday
BUZZ-BETA surges after <a href="https://laohu8.com/S/AMZN">Amazon</a> discloses stake

Updates

** Shares of electric aircraft maker BETA technologies BETA.N rise more than 11% to about $19 in early trading

** Amazon AMZN.O on Tuesday reported stake of 11.8 million class A common shares in BETA, according to SEC filing

** Jefferies upgrades BETA's rating to "buy" from "hold", leaves PT unchanged at $30

** Brokerage sees new catalysts emerging for eVTOL sector, with BETA's pusher‑motor program on track for certification in first half of this year

** Median PT of eight brokerages covering stock is $38.5 - data compiled by LSEG

** Including session's moves, shares down 34% YTD

(Reporting by Megavarshini G. Somasundaram and Apratim Sarkar in Bengaluru)

((Megavarshini.SomasundaramGnanasundari@thomsonreuters.com))

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