Archer Aviation Climbs 8% as Cantor Fitzgerald Raises Price Target to $13

Archer Aviation Rises After Cantor Fitzgerald's Price Target Boost and Analyst Support

Dec 18, 2024

Summary

Analysts have raised their price targets for Archer Aviation, with several giving the stock a "buy" rating, driving a sharp rise in shares

Cantor Fitzgerald raised its price target for the company Archer Aviation (ACHR, Financial) on Wednesday to $13.00 from $10.00, which pushed Archer stock soared 8% on Wednesday. This helped increase some trading volume, as the trade was up 131% from the average daily volume, with 28.1 million shares changing hands. The stock closed at $9.82 Tuesday, up from the previous day's close of $9.09, and reached a high of $10.33.

Other analysts have expressed faith in Archer Aviation's future. H.C. Wainwright kept its 'Buy' rating with a $12.50 price target, and Needham & Company began with a 'Buy' rating and a $11.00 target. The firm also raised its price target from $11.00 to $15.00 and reiterated a 'Buy'. In addition, the target price at Canaccord Genuity went up to $11.00, with a 'Buy' rating.

Archer Aviation has a Moderate Buy consensus rating from 7 buy ratings and 1 Hold rating, and the average price target is $10.63.

Archer Aviation is one of the many stocks capturing optimism due to the sector's strong analyst optimism regarding the company's potential in the emerging electric vertical takeoff and landing (eVTOL) market.

Disclosures

I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours. Click for the complete disclosure

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