Archer Aviation rebounds 20% on new aircraft platform
ACHR•Stock still down sharply this year
** Even with the gain, ACHR stock is down about 29% year to date and trading about 63% below its 52-week intraday high of $14.62 hit on Oct. 15
** The average rating of 9 analysts covering the stock is "buy"; median price target is $11.50, per LSEG data
Commercial and military use in focus
** The platform is designed for commercial and military use; Anduril introduced the defense variant, Thunder, on Monday, with ACHR planning to unveil its commercial variant later this week
** The aircraft uses a hybrid-electric powertrain and is designed for missions including military strikes and cargo movement, allowing ACHR to expand beyond the urban air taxi market
Shares jump after Anduril unveils co-developed platform
** Archer Aviation's ACHR.N shares rise 20.6% to $5.36 on Monday after the company and defense tech firm Anduril unveiled a co-developed autonomous aircraft platform
** ACHR stock bounces off a 1-year low of $4.30 hit on Friday and is on course for its steepest one-day percentage gain in over 14 months
