JPMorgan analyst Bill Peterson raised the firm’s price target on Archer Aviation (ACHR) to $10 from $9 and keeps a Neutral rating on the shares. The firm views the recent outperformance in the electric vertical take-off and landing sector as “irrational exuberance.” While President Trump’s executive order is a positive signal around the government’s support for eVTOL, any further developments are unlikely to impact company earnings materially in the near-term, the analyst tells investors in a research note. JPMorgan thinks significant cash burn and further push-outs of revenue should be better reflected in shares today.
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