New Horizon Aircraft (HOVR, Financial) has formed a strategic alliance with MT-Propeller, renowned for its expertise in cutting-edge composite propeller technologies. This partnership aims to enhance the performance of Horizon's hybrid turbine engine by integrating MT-Propeller's advanced solutions. The collaboration is expected to deliver improvements in speed and efficiency, as well as substantial noise reduction, for the developing Cavorite X7 aircraft.
The Cavorite X7 is a hybrid-electric aircraft designed to operate with both vertical takeoff and traditional runway capabilities. By incorporating MT-Propeller’s innovative propeller technology, the aircraft will benefit from quieter operation and high efficiency, supporting its unique operational versatility.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 2 analysts, the average target price for New Horizon Aircraft Ltd (HOVR, Financial) is $1.63 with a high estimate of $2.00 and a low estimate of $1.25. The average target implies an upside of 18.61% from the current price of $1.37. More detailed estimate data can be found on the New Horizon Aircraft Ltd (HOVR) Forecast page.
Based on the consensus recommendation from 1 brokerage firms, New Horizon Aircraft Ltd's (HOVR, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
