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Shares of Archer Aviation (NYSE: ACHR) rose approximately 15% since last Friday, closing on Thursday with positive momentum driven by successful testing and favorable executive orders from the Trump administration that may benefit the company. Archer recently achieved a cruising speed of 125 miles per hour and an altitude of 1,500 feet in a piloted test of its Midnight aircraft.
On Wednesday, the Trump administration issued executive orders to test eVTOLs in air taxis, cargo, and defense logistics, marking a significant step toward potential regulatory approval. Archer Aviation has a market cap of $6.4 billion but is currently not profitable.
Cantor Fitzgerald maintained an overweight rating on Archer with a price target of $13, highlighting the company’s regulatory progress and operational milestones, including contracts with the Department of Defense through its partnership with Anduril.
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