Benzinga | Aug 26, 2021 05:14PM EDT

Blade Air Mobility Shares Gain After Credit Suisse Initiates Coverage With Outperform Rating

* Credit Suisse analyst Stephen Ju initiated Blade Air Mobility Inc (NASDAQ:BLDE) with an Outperform rating and $14 price target, implying an upside of 67.5%.

* Ju believes the company, with penetration rates across its target markets at less than 1% in aggregate, is positioned for improved adoption rates, given the ease and convenience compared to other modes of transportation and ongoing updates to its pricing structure to attract a broader array of consumers.

* Blade Air Mobility is a technology-powered urban air mobility company that started trading on NASDAQ in May 2021. The company has two analyst firms reporting ratings for it.

* Price Action: BLDE shares closed higher by 5.2% at $8.36 on Thursday.