UK all-business carrier Silverjet has defended itself in the light of a scathing analyst’s research note, which branded it likely to fail and advised investors to sell at any price.

The research note, which was published by investment bank Daniel Stewart Co, gave Silverjet a target price of nil per share and advised investors to sell as soon as possible. But Silverjet claims that the research is flawed and adds that it is in a “strong financial position”, having just raised £22 million ($43.4 million) in capital.

Daniel Stewart Co analyst Mike Stoddart, who wrote the report, tells ATI: “We initiated a target price of £0.00 because we think the business model doesn’t add up. We feel that their fares can’t cover their costs, which are too high.”

Silverjet, which operates <A href=”http://www.flightglobal.c

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