Embraer heads into the Farnborough Airshow next month riding tail winds that have lifted its shares to an all-time high, as recent orders show the Brazilian planemaker ready to fill a gap for airlines starved for new planes in coming years.
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Brazilian jet manufacturer Embraer is the IBD Stock Of The Day for Tuesday. ERJ stock is actionable amid a 60% rally.
Embraer (ERJ) is looking like an interesting pick from a technical perspective, as the company reached a key level of support. Recently, ERJ crossed above the 20-day moving average, suggesting a short-term bullish trend.
If you've been paying any attention to the performance of U.S. equities, it has been difficult to not hear about the big names in the market. The meteoric rise of Nvidia (NASDAQ: NVDA ), for example, still captures headlines today, as the AI craze rages continues.
Embraer is an excellent option to capture the improvement in the aviation sector in 2024. The company's reliance on exports mitigates risk from the Brazilian economy. Embraer has good financial indicators and a favorable valuation, making it an attractive investment option with a potential 9.6% upside.
Electric aircraft maker Eve expects to raise funds as early as next month to finance operations through the certification of its flying taxi in 2026, Chief Executive Johann Bordais told Reuters.
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