Canaccord raised the firm’s price target on Archer Aviation (ACHR) to $13.50 from $13 and keeps a Buy rating on the shares. The firm said the most notable takeaway from the earnings call was today’s announcement that Abu Dhabi would pay Archer more $20M as part of a contract to take delivery of production-series Midnights early. Canaccord believes Archer remains well-positioned to be one of the first if not the first eVTOL design to be passenger- certified for UAM routes.
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