Josh Sullivan, an analyst from Benchmark Co., maintained the Buy rating on Archer Aviation. The associated price target is $12.00.
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Josh Sullivan has given his Buy rating due to a combination of factors that highlight Archer Aviation’s strategic positioning and potential for growth. The company’s progress in the eVTOL certification process with the FAA, although currently at the forefront of existing policy, is expected to gain momentum due to the upcoming LA Olympics and recent executive orders aimed at advancing eVTOL policies. This positions Archer Aviation as a leader in the sector, especially as they are the exclusive air taxi provider for the event.
Additionally, Archer’s expansion into defense technology through strategic acquisitions enhances its portfolio, offering significant growth opportunities. The company’s partnerships with key defense technology players and its robust cash position of $1.7 billion provide a strong foundation to capitalize on these opportunities. These aspects, combined with the anticipated acceleration of FAA policy, underpin Sullivan’s optimistic outlook and Buy rating for Archer Aviation.
In another report released today, Needham also reiterated a Buy rating on the stock with a $13.00 price target.