Needham analyst Chris Pierce reiterated a Buy rating on Archer Aviation today and set a price target of $13.00.
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Chris Pierce has given his Buy rating due to a combination of factors including Archer Aviation’s progress towards commercialization and its strong financial position. The company has reiterated its production guidance, which was previously considered unlikely, and has made significant advancements in its UAE program, moving from planning to actual flight testing.
Additionally, manufacturing is ramping up across two facilities, and a White House–backed pilot program offers a credible path for US testing by 2026. Archer Aviation’s robust $1.7 billion cash balance provides a financial runway through certification and initial deployments, despite a slight increase in execution risk due to a more aggressive timeline. The $13 price target is based on a 12.5x multiple of the estimated 2029 adjusted EBITDA, discounted back, with the company’s OEM-focused model expected to drive a faster revenue and earnings trajectory compared to its air taxi-focused peers.