In a report released yesterday, Austin Moeller from Canaccord Genuity maintained a Buy rating on Archer Aviation (ACHR – Research Report), with a price target of $13.50.
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Austin Moeller has given his Buy rating due to a combination of factors, primarily focusing on Archer Aviation’s recent advancements in their flight testing program. The successful completion of a piloted conventional takeoff and landing (CTOL) test flight marks a significant milestone for the company, demonstrating the operational stability and flexibility of their eVTOL aircraft, Midnight. This achievement aligns with Archer’s strategic goals and enhances confidence in their timeline for type certification, which is anticipated to be completed by the first half of 2027.
Furthermore, the positive feedback from Archer’s Chief Test Pilot, Jeff Greenwood, underscores the reliability and performance of the Midnight aircraft, as it met expectations based on simulation tests. Greenwood’s extensive experience and involvement in the aircraft’s development process add credibility to the test results. These developments, coupled with the potential for future test flights in Abu Dhabi, reinforce the company’s progress and potential, justifying the Buy rating and the price target of $13.50 per share.
According to TipRanks, Moeller is a 4-star analyst with an average return of 6.0% and a 44.66% success rate. Moeller covers the Industrials sector, focusing on stocks such as Spire Global, Vertical Aerospace, and Archer Aviation.
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