Archer Aviation price target raised to $15 from $11 at Deutsche Bank

Deutsche Bank raised the firm’s price target on Archer Aviation (ACHR) to $15 from $11 and keeps a Buy rating on the shares. The company announced an exclusive strategic partnership with Anduril to develop a hybrid vertical take-off and landing military aircraft, targeting a potential program of record from the Department of Defense, the analyst tells investors in a research note. The firm says the new program will likely be multi-billion in nature, “significantly boosting Archer’s growth potential.” The financial risk profile of Archer should be much lower now as revenue and profit can be pulled forward as military programs could be awarded as early as next year, contends Deutsche Bank.