Latest news with #MeetMidnight
Business Insider
28-04-2025
- Business
- Business Insider
‘A Fascinating Bet,' Says Top Investor About Archer Aviation Stock
Archer Aviation (NYSE:ACHR) saw its share price gallop 19% higher over the past week, fueled by a slew of developments that generated significant excitement. Stay Ahead of the Market: Discover outperforming stocks and invest smarter with Top Smart Score Stocks. Filter, analyze, and streamline your search for investment opportunities using Tipranks' Stock Screener. Among the items of interest, Archer held a 'Meet Midnight' event in New York to showcase its Midnight eVTOL aircraft. Representatives from United Airlines, which has partnered with Archer to create an air taxi service for airports in the New York metropolitan area – were in attendance as well. Still, the Midnight isn't cleared for takeoff just yet – Archer must first secure Type Certification from the Federal Aviation Administration. Meanwhile, the company is going full steam ahead in international markets. Archer has inked two customers for its Launch Edition commercialization program: Abu Dhabi Aviation and Ethiopian Airlines. This past week, Abu Dhabi regulators approved a plan to create slots for eVTOLs at Abu Dhabi's Cruise Terminal. Still, even with the recent lift, ACHR shares are down 12% year-to-date. Yet, top investor Dhierin Bechai sees an intriguing opportunity brewing. 'While the stock price has declined, we are seeing some derisking elements as the company is getting closer to securing additional funding, and it is closer to service entry of the Midnight,' explains the 5-star investor, who is among the top 2% of TipRanks' stock pros. Bechai is encouraged by the Launch Edition signings, believing that the deals are a healthy sign that things are moving in the right direction. Turning his attention to the partnership with Ethiopian Airlines, the investor is particularly pleased by this $30 million agreement – and the opportunities it represents. 'It does show that eVTOLs can be deployed in regions with lower GDP per capita and perhaps also signals that urban air mobility can be deployed in areas where infrastructure is less advanced,' adds Bechai. While acknowledging that recent stock declines stemmed largely from broader uncertainty rather than any Archer-specific issues, Bechai cautions that a prolonged bear market or tighter international trade restrictions could pose challenges. Even so, his optimism remains firmly intact. 'I believe that Archer Aviation remains a fascinating stock. It is definitely not a stock that is cheap or risk-free. If you buy, you have to accept the risk that comes with it,' concludes Bechai. Willing to accept that risk, the investor rates ACHR stock a Buy. (To watch Bechai's track record, click here) Wall Street tends to agree that ACHR is a compelling bet. With 6 Buy and 1 Hold ratings, ACHR enjoys a Strong Buy consensus rating. Its 12-month average price target of $12.83 implies a 49% upside from current levels. (See ACHR stock forecast) To find good ideas for stocks trading at attractive valuations, visit TipRanks' Best Stocks to Buy, a tool that unites all of TipRanks' equity insights.
Business Insider
23-04-2025
- Business
- Business Insider
‘Load Up,' Says Needham About Archer Aviation Stock
Archer Aviation (NYSE:ACHR) shares may be feeling the impact of the stock market's ongoing tariff-driven volatility – down roughly 25% year-to-date – but the company's long-term promise remains as enticing as ever. Stay Ahead of the Market: Discover outperforming stocks and invest smarter with Top Smart Score Stocks. Filter, analyze, and streamline your search for investment opportunities using Tipranks' Stock Screener. At least, that's the take from Needham analyst Chris Pierce, who sees compelling momentum behind the eVTOL innovator, especially after two recent events that highlighted the progress the company has been making. One of those moments came at the company's 'Meet Midnight' event in Manhattan, where it unveiled its Midnight aircraft. According to Pierce, the event 'checked the necessary boxes,' sparking plenty of enthusiasm among potential passengers based on the potential for a new and improved way to reach metro NYC airports. And this wasn't just a PR stunt. Heavy hitters like United Airlines and the New York City Economic Development Corporation, which oversees key heliports including East 34th Street and Downtown Manhattan, were in attendance, adding further credibility to the 'potential transformation' of airport transportation. 'We left the event more bullish on eVTOL vertiport potential at larger airports after speaking with representatives from United's Newark team,' Pierce commented on the matter. The other recent event Archer was involved in was the eVTOL Insights' North America Conference, with Archer and peers Joby Aviation and Beta Technologies all taking part. Pierce views commercial eVTOL aircraft certification in the US as a three-horse race, with the three companies 'emerging as winners.' What stood out to Pierce the most at the conference was how 'little share of the event' the major eVTOL players actually had, despite being 'clearly felt in the room.' Company reps and panelists largely acknowledged the dominance of these key players in the metropolitan eVTOL market and instead directed their focus toward electrification as a means to boost regional airport usage. 'We're bullish on electrification driving increased regional airport usage, replacing a wide swath of inefficient and environmentally damaging 2-6 hour road trips done in ICE vehicles,' says the analyst on this issue. Beta Technologies, for example, has already installed charging infrastructure at more than 20 regional airports east of the Mississippi and recently wrapped a six-week piloted flight tour across 22 U.S. states. Meanwhile, companies like Surf Mobility are tapping into real-world travel patterns to figure out where people actually want to go, not just where planes happen to land. All told, Pierce is staying firmly in the bull camp with a Buy rating on ACHR shares and a $13 price target, implying a nearly 80% upside from current levels. (To watch Pierce's track record, click here) The broader Street isn't far behind. The average price target stands at $12.83, pointing to a potential 75% gain over the next year. With 6 Buys and just 1 Hold on record, the stock earns a Strong Buy consensus rating. (See ACHR stock forecast) To find good ideas for stocks trading at attractive valuations, visit TipRanks' Best Stocks to Buy, a tool that unites all of TipRanks' equity insights.
