Archer Aviation (ACHR) Advances eVTOL Program With Record Flight and United Airlines Support
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The event was observed by United Airlines (UAL) Chief Financial Officer Mike Leskinen, who has backed Archer since its early stages. His presence highlighted the ongoing link between the two firms. United was one of the first airlines to invest in Archer, and it also signed an agreement to add the Midnight aircraft to its fleet once flights secure regulatory approval.
The eVTOL Market Gains Speed
Archer's progress comes as other eVTOL firms, including Joby Aviation (JOBY), continue their own pilot and range checks. Each successful test adds evidence that these aircraft can meet targets for distance and safety. This steady progress is important since Archer aims to begin passenger service in 2025, pending clearance from regulators.
Archer's pace may also help strengthen investor confidence as it shows more practical use of its product. The company has noted that its aircraft are designed for short city routes such as airport to downtown rides. These trips require a limited yet reliable range. With this latest flight, the Midnight aircraft demonstrated its ability to cover that type of route at a speed suited for daily travel.
The stock has been volatile as Archer moves toward commercialization. The company still faces the challenge of securing full approval, yet each milestone may support the view that its path toward service is advancing as planned.
Is Archer Aviation Stock a Good Buy?
Despite the stock's speculative nature, Wall Street analysts remain optimistic about the company. Based on eight recent ratings, Archer Aviation boasts a 'Strong Buy' consensus with an average 12-month price target of $12.06. This implies a 23.31% upside from the current price.
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Archer Aviation (ACHR), the eVTOL pioneer, marked another step in its flight program this week. The company said its Midnight aircraft completed its longest piloted trip to date at its test site in Salinas, California. The aircraft flew about 55 miles in 31 minutes at speeds above 126 mph. Test runs in the prior week also reached nearly 150 mph, showing steady gains in pace and control. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. The event was observed by United Airlines (UAL) Chief Financial Officer Mike Leskinen, who has backed Archer since its early stages. His presence highlighted the ongoing link between the two firms. United was one of the first airlines to invest in Archer, and it also signed an agreement to add the Midnight aircraft to its fleet once flights secure regulatory approval. The eVTOL Market Gains Speed Archer's progress comes as other eVTOL firms, including Joby Aviation (JOBY), continue their own pilot and range checks. Each successful test adds evidence that these aircraft can meet targets for distance and safety. This steady progress is important since Archer aims to begin passenger service in 2025, pending clearance from regulators. Archer's pace may also help strengthen investor confidence as it shows more practical use of its product. The company has noted that its aircraft are designed for short city routes such as airport to downtown rides. These trips require a limited yet reliable range. With this latest flight, the Midnight aircraft demonstrated its ability to cover that type of route at a speed suited for daily travel. The stock has been volatile as Archer moves toward commercialization. The company still faces the challenge of securing full approval, yet each milestone may support the view that its path toward service is advancing as planned. Is Archer Aviation Stock a Good Buy? Despite the stock's speculative nature, Wall Street analysts remain optimistic about the company. Based on eight recent ratings, Archer Aviation boasts a 'Strong Buy' consensus with an average 12-month price target of $12.06. This implies a 23.31% upside from the current price.
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