Austin Moeller, an analyst from Canaccord Genuity, maintained the Buy rating on Archer Aviation (ACHR – Research Report). The associated price target remains the same with $13.50.
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Austin Moeller has given his Buy rating due to a combination of factors surrounding Archer Aviation’s strategic developments and partnerships. The unveiling of Archer’s Midnight eVTOL aircraft and the vision for a New York Air Taxi Network highlight the company’s innovative approach and potential market impact. The event, which took place in New York, showcased Archer’s futuristic vision and strong collaboration with United Airlines, which has already placed an order for 200 Midnight aircraft.
Archer’s planned air taxi routes, reminiscent of historical helicopter networks, indicate a well-thought-out strategy to address urban transportation challenges. The partnerships with key players in the aviation industry, such as Signature Aviation and United Airlines, further strengthen Archer’s operational capabilities. Additionally, the aircraft’s low noise profile is expected to facilitate public acceptance, paving the way for expansion in major urban centers. These strategic moves and partnerships underpin Moeller’s positive outlook on Archer’s growth potential.
Moeller covers the Industrials sector, focusing on stocks such as Spire Global, Archer Aviation, and Intuitive Machines. According to TipRanks, Moeller has an average return of -6.2% and a 32.11% success rate on recommended stocks.
In another report released on April 21, Needham also reiterated a Buy rating on the stock with a $13.00 price target.