Archer Aviation Is Gaining Today -- Is the Stock a Buy?
Archer Aviation (NYSE: ACHR) stock is moving higher in Thursday's trading. The company's share price was up 1.2% as of 2:30 p.m. ET and had been up as much as 10% earlier in the daily session.Archer Aviation stock is climbing following recent analyst coverage on the stock. Yesterday, Canaccord analyst Austin Moeller published a note on Archer and maintained a buy rating on the stock. But notably, he actually lowered the firm's one-year price target from $14 per share to $13 per share. Still, the new price target suggests potential upside of roughly 37.5% as of this writing.Explaining the rationale behind the price target decrease, Moeller pointed to stock dilution stemming from Archer's recent move to sell new shares worth $301.75 million. On the other hand, he continues to think that Archer's push into the defense industry through its partnership with Anduril will be a significant positive performance catalyst. Continue reading
Archer Aviation (NYSE: ACHR) stock is moving higher in Thursday's trading. The company's share price was up 1.2% as of 2:30 p.m. ET and had been up as much as 10% earlier in the daily session.
Archer Aviation stock is climbing following recent analyst coverage on the stock. Yesterday, Canaccord analyst Austin Moeller published a note on Archer and maintained a buy rating on the stock. But notably, he actually lowered the firm's one-year price target from $14 per share to $13 per share. Still, the new price target suggests potential upside of roughly 37.5% as of this writing.
Explaining the rationale behind the price target decrease, Moeller pointed to stock dilution stemming from Archer's recent move to sell new shares worth $301.75 million. On the other hand, he continues to think that Archer's push into the defense industry through its partnership with Anduril will be a significant positive performance catalyst.
