Needham analyst Chris Pierce initiated coverage of Archer Aviation (ACHR) with a Buy rating and $11 price target The cadence of aircraft deliveries and air taxi network operation is uncertain, but industry momentum “has left the hangar,” the analyst tells investors in a research note. The firm says it has higher confidence in Archer executing against its $6B aircraft order book post the recently introduced modeling guardrails. It sees a $3B-plus early stage air taxi revenue opportunity for the company, driven by a “conservative” share of airport and commute travel, backed by a “compelling use case” given shorter trip times versus currently available, higher end airport travel options. Archer is a “long duration story, but shorter-term catalysts (regulatory approvals, first passenger flights) should drive increased confidence in the longer-term opportunity,” contends Needham.
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Read More on ACHR:
- Unusually active option classes on open November 13th
- Archer Aviation files to sell $70M of Class A common stock
- Unusually active option classes on open November 12th
- Unusually active option classes on open November 11th
- Archer Aviation price target raised to $8.50 from $7.50 at Canaccord
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
