Archer Aviation (ACHR), a maker of electric vertical takeoff and landing aircraft, announced that it has been chosen to be the Official Air Taxi Provider for the 2028 Los Angeles Olympic and Paralympic Games. Through this exclusive partnership, Archer’s Midnight aircraft will help transport VIPs, fans, and staff around the city. The company will also help set up electric takeoff and landing hubs (called vertiports) near Olympic venues and assist with emergency services and security.
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The company plans to debut its Midnight electric aircraft in Los Angeles with Olympic organizers. With more than 15 million visitors expected and billions watching worldwide, this is a great opportunity for Archer to demonstrate the effectiveness of its product to a large audience. Indeed, the Midnight aircraft will offer fast, quiet, and zero-emission travel around the city. The aircraft can carry four passengers and is designed for short trips, with each flight lasting about 10 to 20 minutes between vertiport locations.
In addition, Archer’s network will include vertiports at major Olympic sites like the Inglewood Stadium and the LA Memorial Coliseum, as well as busy areas like LAX, Hollywood, Santa Monica, and Orange County. Investors seemed to like the announcement, as Archer Aviation’s stock finished higher in today’s trading. This comes as Archer Aviation also prepares to deliver its first Midnight aircraft to the United Arab Emirates in the coming months, with plans to launch service later this year.
Is ACHR a Good Stock to Buy?
Turning to Wall Street, analysts have a Strong Buy consensus rating on ACHR stock based on six Buys, one Hold, and zero Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average ACHR price target of $12.83 per share implies 40.5% upside potential.
