Cantor raises Archer PT after it expands into military use, shares up
** Shares of air taxi maker Archer Aviation ACHR.N 4% to $9.45 premarket
** Brokerage Cantor raises ACHR PT to $13 from $10, a 44% upside to stock's last close; maintains "overweight"
** Brokerage expects ACHR to continue to primarily prioritize its electric vertical takeoff and landing (eVTOL) segment and says the company will now be able to focus on a dual-use with the military
** Co, on Dec 12, raised $430 mln in fresh capital and entered into a partnership to develop a hybrid aircraft with defence tech company Anduril Industries, targeting a potential "program of record" from the Pentagon
** Eight of nine brokerages rate ACHR "buy" and one "hold"; their median PT is $11 - LSEG data
** Up to last close, stock up 48% YTD
Reporting by Anshuman Tripathy
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