Volatus Aerospace: Desjardins Opens Coverage at 0.90 CAD as Mirabel Plant and V-Cortex Autopilot Take Shape

Desjardins Securities initiated Volatus Aerospace at Buy with a 0.90 CAD target, as Mirabel production opens and V-Cortex flies without GPS.

Volatus Aerospace is stitching together two halves of a single strategy: a physical manufacturing base in Québec and a software stack designed to fly without satellite signals. How quickly the first feeds orders into the second now sits at the center of the investment case, and Desjardins Securities has stepped in with a verdict.

Desjardins Starts at Buy, Haywood Sees De-Risking

On September 23, Desjardins Securities initiated coverage of the stock with a Buy rating and a price target of 0.90 CAD. The call lands as the company's market capitalization stands at EUR 250.03 million.

That assessment follows a separate read on the defence side of the business. On September 16, analyst Gianluca Tucci of Haywood Securities argued that the Canadian government drone contract — reported roughly two weeks earlier — has lowered the risk attached to Volatus Aerospace's military growth strategy. The award matters because the military segment is meant to deliver predictable, contract-backed revenue, though converting that pipeline into shipments still depends on having both the technical platforms and the industrial capacity in place.

Mirabel: 53,000 Square Feet of Production

That industrial capacity became tangible just over a week ago, when Volatus Aerospace formally opened its new production and integration site in Mirabel. The facility spans 53,000 square feet and is built for industrial manufacturing and systems integration. Drone docking stations are already rolling off the line there.

The plant is also set up to handle assembly and integration of the V-Series aircraft and other autonomous systems. For the company, Mirabel represents an effort to concentrate technical manufacturing at a single hub and to execute the planned scaling of its physical systems.

V-Cortex Flies Without GPS

On the technology side, Volatus Aerospace reported on September 22 the first flight tests of its V-Cortex AI flight controller and the accompanying autonomy operating system. The trials showed the system can handle autonomous navigation in environments where no GPS signal is available.

The controller relied entirely on onboard sensors — no external sensing was used. Further tests and demonstrations are scheduled through 2026 to prove out the autonomous platform under real-world conditions.

Share Price: Placements, Pullbacks and a 52-Week High

Market reaction to the operational news has been muted. The stock trades at EUR 0.3475, down 2.1 percent since the Mirabel opening. Pre-market, the quote sits at EUR 0.3480.

The shares changed hands around 7.7 percent lower in the period after the Canadian army drone delivery contract was announced, and gave up 10.4 percent following the V-Cortex flight tests. More than a month ago, the completion of a bought-deal placement reshuffled the company's financial base, and the stock weakened in its wake. The paper now sits 37 percent below its 52-week high of EUR 0.5550.

For investors, the operative questions are how fast production at Mirabel can be ramped and whether the V-Cortex tests planned for 2026 will meet expectations — with the newly created capacity ultimately judged by the actual orders and follow-on contracts that flow through it.