Archer Aviation's Midnight eVTOL Aircraft Test Flights: A Boost for Growth and Market Entry

Analyst Amit Dayal from H.C. Wainwright reiterated a Buy rating on Archer Aviation with a $18.00 price target, citing the company's successful test flights of its Midnight eVTOL aircraft in Abu Dhabi and its promising business model with revenue streams from eVTOL sales and urban air mobility services. The company is expected to increase production to over 400 eVTOLs annually by 2031 and achieve revenues of approximately $1 billion by 2028. Despite potential risks, the strategic execution and market potential justify the positive outlook.