What's next?? Archer Aviation has been making waves recently with significant developments and bullish coverage from analysts. Here's a summary of the latest updates:
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Deutsche Bank Coverage: Deutsche Bank maintained a buy rating on Archer Aviation and raised its one-year price target from $11 per share to $15 per share. The analysts see significant promise in Archer's push into the defense industry, believing that this new business could generate billions in revenue and be a major growth driver for the company.
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Canaccord Coverage: Canaccord also published bullish coverage on Archer, maintaining a buy rating and raising its one-year price target from $8.50 per share to $11 per share. While this suggests less upside compared to Deutsche Bank's note, it still indicates additional upside of 31% from the current share price.
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Market Capitalization: Archer Aviation now has a market capitalization of roughly $3.1 billion. Despite being in a pre-revenue state, the company appears to be on track, with 2025 potentially being the year it begins posting sales.
These developments highlight the growing confidence in Archer Aviation's future prospects, especially with its entry into the defense sector.