Archer Aviation (ACHR) Stock Soars as JPMorgan Raises Price Target
Archer Aviation (NYSE: ACHR) stock is making headlines as JPMorgan boosts its price target for the eVTOL company. Analysts at JPMorgan have raised the price target for ACHR stock to $6 per share, representing a potential 31.6% upside. Despite this increase, it falls short of the consensus price prediction of $8.10 per share.
JPMorgan maintains an “overweight” rating for ACHR stock, with the analysts’ consensus rating for Archer Aviation shares being a moderate buy based on five opinions.
What to Expect Next for ACHR Stock
Investors should keep a close watch on Archer Aviation as it gears up to release its fiscal Q2 2024 earnings report on August 8, 2024. Key metrics to watch for in the report include EPS of -33 cents and $500,000 in revenue.
As of Wednesday morning, ACHR stock is down 2.5% and has declined by 23.5% since the beginning of the year.
Stay tuned for more exciting stock market news on Wednesday, including updates on Tesla (NASDAQ: TSLA) and Conn’s (NASDAQ: CONN) stock. Check out the links below for all the latest information!
Analysis:
In summary, Archer Aviation’s stock is on the rise following JPMorgan’s increased price target, offering potential upside for investors. The upcoming earnings report will provide further insight into the company’s financial performance. It is essential for investors to stay informed about market trends and company updates to make informed decisions about their investments.