#2 - Archer Aviation (NYSE:ACHR)
Investors looking for the next big thing have been putting money into companies that make electric vertical take-off and landing (eVTOL) aircraft, colloquially known as flying cars. Archer Aviation Inc. (NYSE: ACHR) is one of the most significant names in this space right now.
The bullish case for flying cars is evident in the use cases, which include shuttling passengers from airports to major cities and transporting first responders to accident scenes that are impossible to reach by ground transport. The market is expected to grow from $5.41 billion in 2021 to $23.21 billion in 2028.
Archer’s flagship Midnight eVTOL is well on its way to getting full FCC approval for commercial operations in 2025. In the meantime, it’s already delivered its first Midnight to the U.S. Air Force as part of its AFWERX Agility Prime contract.
Archer is not yet profitable. However, analysts project 169.5% upside in ACHR stock in the next 12 months.
About Archer Aviation
Archer Aviation Inc, together with its subsidiaries, engages in designs, develops, and operates electric vertical takeoff and landing aircraft for use in urban air mobility. The company was formerly known as Atlas Crest Investment Corp. and changed its name to Archer Aviation Inc The company is headquartered in San Jose, California.
- Current Price
- $7.88
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 5 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $9.33 (18.4% Upside)
