Archer Aviation price target raised to $18 from $12 at H.C. Wainwright

H.C. Wainwright analyst Amit Dayal raised the firm’s price target on Archer Aviation (ACHR) to $18 from $12 and keeps a Buy rating on the shares. Last Friday’s Executive Order accelerates market development for electric vertical take-off and landing and drones within the public safety, defense, and military verticals, the analyst tells investors in a research note. The firm believes the expanding use of drones in the Russia-Ukraine conflict is compelling national defense interests, globally, to significantly expand the inclusion of drones and eVTOLs in their security infrastructure. H.C. Wainwright’s long-term projections now more meaningfully include revenue contributions from these applications. Archer is already working with the military and has also recently established a partnership with Anduril to pursue building aircraft for these applications, adds the firm.