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Canaccord Maintains Buy Rating on Archer Aviation Despite Price Target Cut
Canaccord Maintains Buy Rating on Archer Aviation Despite Price Target Cut
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BTCCSquare news:
Canaccord Genuity analyst Austin Moeller reduced Archer Aviation's price target to $12 from $13 following mixed Q3 results, but reaffirmed a Buy rating. The adjustment reflects an EBITDA loss at the low end of guidance, though operating expenses ROSE to $175 million under GAAP.
Archer outperformed earnings expectations with a net loss of $0.20 per share versus $0.30 forecasted, while securing $2.2 billion in total liquidity. Shares rebounded 5.8% to $8.94 post-announcement.
The company's strategic acquisition of Hawthorne Airport for $126 million signals aggressive infrastructure expansion ahead of planned commercial operations.
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