Cantor Fitzgerald Maintains an Overweight Rating on Archer Aviation (ACHR), Keeps the PT Unchanged

Archer Aviation Inc. (NYSE:ACHR) is one of the 13 Best Aerospace and Defense Stocks to Invest in Now. On June 23, Cantor Fitzgerald analyst Andres Sheppard reaffirmed an Overweight rating on Archer Aviation Inc. (NYSE:ACHR) with a price target of $13.00.

The price target set by Andres Sheppard reflects around 30% upside from the current level and is based on the series of partnerships that the company has forged recently. On June 19, Archer Aviation Inc. (NYSE:ACHR) announced its partnership with Jetex to develop infrastructure supporting Archer’s commercial air taxi network by integrating its Midnight eVTOL aircraft into Jetex’s portfolio of 40 private aircraft terminals.

Earlier on June 17, the company participated alongside the US Transportation Secretary and Acting FAA Administrator and announced an alliance among five countries aimed at harmonizing and accelerating the certification process for eVTOL aircraft worldwide. Moreover a day before this announcement Archer Aviation Inc. (NYSE:ACHR) had announced a strategic partnership to deploy its Midnight eVTOL aircraft in Indonesia, marking a significant step in expanding its commercial air taxi operations into Southeast Asia. Andres Sheppard suggests these partnerships are proponents of strong liquidity and key drivers for future growth.

Archer Aviation Inc. (NYSE:ACHR) designs and develops electric vertical takeoff and landing (eVTOL) aircraft, primarily for urban air mobility and air taxi services.

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Disclosure: None.