Bullish View On Surf Air Mobility; Mallinckrodt Makes Strategic Move
- August 28th, 2023
- 571 views
Surf Air Mobility Inc. (NYSE: SRFM), a prominent player in the aviation industry, offering innovative air travel solutions, was initiated with a Buy rating by Canaccord Genuity, accompanied by a price target of $3.
Although $SRFM closed at $1.34 on Friday, the provided price target suggests a potential upside of $1.66 or approximately 123.88%, as projected by the investment banking firm's analysis.
In other news, Mallinckrodt plc (NYSE American: MNK) said the it has initiated voluntary prepackaged Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware. This step is in line with the Restructuring Support Agreement previously entered into with major debtholders and the Opioid Master Disbursement Trust II, as announced on August 23, 2023.
The company aims to reduce its total funded debt by approximately $1.9 billion, enhance cash flow, and extend its financial stability. Operating normally, Mallinckrodt will continue patient support and its business operations throughout the court-supervised process, with expected completion in Q4 2023.
THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY OR DIGITAL ASSET. Please consult with a professional investment advisor before purchasing or selling any securities viewed on or mentioned herein. (Read Full Disclaimer)
Post Your Comments
Want To Find Some News?
Recent Posts
-
FTC Takes Action to Prevent Anticompetitive Arrangement in Beretta, Ruger Deal
September 16th, 2026Why Opponent Preparation Matters for Post-Graduate Athletes
September 16th, 2026The Work Behind the Game: How Football Teams Prepare to Compete
September 15th, 2026NJCP Operates on a Prep Model Built Around a Full Season
September 14th, 2026Earnings Preview: High Tide, Kestra Medical, and RF Industries in Focus
September 12th, 2026
Member Login