Canaccord Genuity analyst Austin Moeller maintained a Buy rating on Archer Aviation yesterday and set a price target of $13.00.
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Austin Moeller has given his Buy rating due to a combination of factors surrounding Archer Aviation’s recent developments and future prospects. The successful shipment and test flight of Archer’s Midnight eVTOL in Abu Dhabi demonstrate the company’s commitment to meeting its operational goals and advancing its technology in challenging environmental conditions. This achievement is a positive indicator of Archer’s ability to fulfill its contractual obligations and expand its market presence.
Furthermore, Archer’s plans to increase its production rate and engage in further test flights to support certification and commercialization efforts are promising. The anticipated participation in the USA’s eVTOL Integration Pilot Program and the production of type-conforming aircraft for FAA trials are expected to enhance Archer’s position in the market. These strategic moves, along with a projected increase in aircraft production, underpin the Buy rating and the $13 price target set by Moeller.
In another report released yesterday, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $13.00 price target.
ACHR’s price has also changed moderately for the past six months – from $11.140 to $10.020, which is a -10.05% drop .