Archer Aviation price target raised to $12 from $11 at Raymond James

Raymond James analyst Savanthi Syth raised the firm’s price target on Archer Aviation (ACHR) to $12 from $11 and keeps an Outperform rating on the shares ahead of electric vertical take-off and landing company Q4 earnings reports that start next week. Archer remains the firm’s sole Outperform-rated eVTOL stock, with the biggest differentiators vs. the other industry leader, Joby (JOBY), being relative valuation and a somewhat more de-risked cash flow profile in the early years of the commercial ramp, the analyst tells investors in a research note.