Embraer shares soar with electric aircraft orders, analyst upgrade

FILE PHOTO: The logo of Brazilian planemaker Embraer SA is seen at the company's headquarters in Sao Jose dos Campos, Brazil February 28, 2018. REUTERS/Roosevelt Cassio/File Photo

SAO PAULO (Reuters) - Brazilian planemaker Embraer SA said on Thursday its subsidiary Eve has signed a memorandum of understanding to sell up to 100 electric aircraft to lessor Bristow Group, sending Embraer shares higher, in the latest sign of dealmaking in the nascent "flying taxis" sector.

Brazil-listed Embraer shares, which were also boosted by an upgrade to "buy" from "neutral" by analysts at Goldman Sachs, jumped 11.75% to 23.80 reais in early trading in Sao Paulo.