Wall Street Thinks Archer Aviation Is a Buy. Here's Why I Don't.
Archer Aviation (NYSE: ACHR) is one of the leading companies in the electric vertical takeoff and landing (eVTOL) aircraft market. The aerospace and defense technology company's goal is to reduce urban gridlock with 10- to 15-minute aerial trips. Some analysts love Archer Aviation. While the stock is down nearly 50% so far this year, the average analysts' price target for the stock is $10.89, roughly $7 a share more than it is trading for now. Archer's positive side is its commercial relationships with carmaker Stellantis and United Airlines . There's also potential in some recently acquired Boeing subsidiaries: drone maker Insitu, eVTOL maker Wisk Aero, and SkyGrid, which makes software infrastructure and a digital air traffic management system. Continue reading