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Archer Aviation (NYSE:ACHR) stock is in the news Wednesday as JPMorgan increases its price target for the electric vertical takeoff and landing (eVTOL) company’s shares.
This has analysts at JPMorgan increasing the firm’s price target for ACHR stock from $5 per share to $6 per share. That’s a potential 31.6% upside compared to its previous closing price. Even so, it’s below the analysts’ consensus price prediction of $8.10 per share.
JPMorgan’s analysts continue to maintain an “overweight” rating for ACHR stock. For the record, the analysts’ consensus rating for Archer Aviation shares is moderate buy based on five opinions.
What’s Next for ACHR Stock
Investors will want to keep an eye on Archer Aviation in the coming weeks as it prepares to release its fiscal Q2 2024 earnings report. That report will come out after markets closed on Aug. 8, 2024.
Investors will want to check on the eVTOL company’s EPS and revenue when that report comes out. Wall Street’s estimates for the quarter include EPS of -33 cents alongside $500,000 in revenue.
ACHR stock is down 2.5% as of Wednesday morning. The stock is also down 23.5% since the start of the year.
Investors will want to keep reading for more of the most recent stock market stories today!
We have all of the hottest stock market news ready to go on Wednesday! Among that is what has shares of Tesla (NASDAQ:TSLA) and Conn’s (NASDAQ:CONN) stock in the news today. All of that info is ready at the links below!
More Wednesday Stock Market News
- UBS Is Warning Investors on Tesla Stock: Shares Have Much Further to Fall
- Should Tesla Invest $5 Billion in xAI? Elon Musk Polls His Fans to Find Out
- Why Is Conn’s (CONN) Stock Down 36% Today?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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