Why Shares of Archer Aviation Took Flight This Week
Since last Friday, shares of the electric vertical take-off and landing (eVTOL) aircraft company Archer Aviation (NYSE: ACHR) traded about 15% higher, as of the close of trading on Thursday. The company conducted more successful testing, received positive sentiment from Wall Street, and President Donald Trump's administration issued executive orders that could benefit Archer.Cantor Fitzgerald issued a research note earlier this week, maintaining its overweight rating on the stock and issuing a $13 price target. Analyst Andres Sheppard said the company recently conducted a successful piloted test of its Midnight aircraft. The Midnight reached a cruising speed of 125 miles per hour and an altitude of over 1,500 feet.Image source: Getty Images.Continue reading
Since last Friday, shares of the electric vertical take-off and landing (eVTOL) aircraft company Archer Aviation (NYSE: ACHR) traded about 15% higher, as of the close of trading on Thursday. The company conducted more successful testing, received positive sentiment from Wall Street, and President Donald Trump's administration issued executive orders that could benefit Archer.
Cantor Fitzgerald issued a research note earlier this week, maintaining its overweight rating on the stock and issuing a $13 price target. Analyst Andres Sheppard said the company recently conducted a successful piloted test of its Midnight aircraft. The Midnight reached a cruising speed of 125 miles per hour and an altitude of over 1,500 feet.
Image source: Getty Images.
