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Investing.com - Cantor Fitzgerald has reiterated an Overweight rating and $13.00 price target on Archer Aviation Inc. (NYSE:ACHR), which has delivered an impressive 262% return over the past year. According to InvestingPro analysis, the stock currently trades at $11.29, with analyst targets ranging from $4.50 to $18.00.
The firm’s decision follows Archer’s October 20 announcement of an exclusive partnership with Korean Air to commercialize its Midnight eVTOL aircraft in South Korea. The deal includes potential for Korean Air to purchase up to 100 aircraft units for various applications, including government use.
Archer also won a competitive bid on October 15 to acquire Lilium’s portfolio of approximately 300 advanced air mobility patent assets for €18 million.
On October 22, Archer announced the Los Angeles Sports & Entertainment Commission (LASEC) selected the company as its exclusive air taxi partner to serve as an official Los Angeles World Cup 2026 host city supporter.
The partnership also includes becoming an official Super Bowl LXI host committee partner, helping establish the foundation for air taxi flights ahead of the 2028 LA Olympic Games.
In other recent news, Archer Aviation has experienced several notable developments. The company announced that its battery-powered air taxis will not receive certification by the end of 2025, delaying passenger flights to 2026, as regulators in the United Arab Emirates take longer than expected to complete their review process. Archer also secured a significant deal with Korean Air, which plans to purchase up to 100 of Archer’s Midnight electric vertical takeoff and landing (eVTOL) aircraft, initially for government applications. Additionally, Archer has been named the exclusive Air Taxi Partner for the Los Angeles Sports & Entertainment Commission, aligning itself with major events like the Los Angeles World Cup 2026 and Super Bowl LXI to enhance public awareness of its air taxi network.
Furthermore, Archer has expanded its intellectual property holdings by acquiring Lilium GmbH’s patent portfolio for €18 million, adding approximately 300 patent assets related to eVTOL technology. This acquisition increases Archer’s total patent assets to over 1,000 worldwide, covering innovations in areas such as ducted fans, propeller systems, and electric engines. These strategic moves are part of Archer’s broader efforts to strengthen its position in the electric air taxi market.
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