Chris Pierce, an analyst from Needham, reiterated the Buy rating on Archer Aviation (ACHR – Research Report). The associated price target was raised to $13.00.
Chris Pierce has given his Buy rating due to a combination of factors including Archer Aviation’s strong order book and the potential for significant revenue growth. The company has secured over $6 billion in orders, which reflects confidence in their air taxi business model. This is further supported by their “Launch Edition” program, which aims to test the viability of their aircraft in real-world scenarios.
Additionally, Archer Aviation’s valuation is considered attractive compared to its peers, providing a margin of safety for investors. Despite uncertainties surrounding FAA certification, the company’s financial position is strong enough to fund operations through FY26 at current expenditure levels. The raised price target of $13 is based on projected EBITDA for 2029, discounted to present value.
According to TipRanks, Pierce is an analyst with an average return of -18.0% and a 30.38% success rate. Pierce covers the Consumer Cyclical sector, focusing on stocks such as Blue Bird, Carvana Co, and CarMax.
In another report released today, Canaccord Genuity also maintained a Buy rating on the stock with a $13.50 price target.