Archer Aviation posts Q1 losses but eyes FAA certification and US air taxi launch in 2026 with $12 price target.

Archer Aviation reported Q1 2026 results showing a net loss of $217.7 million and revenue of $1.6 million, driven by heavy R&D spending on FAA certification and hybrid aircraft development. Despite a 25.77% stock decline over the past year, the company is advancing FAA Type Certification and plans to start US air taxi operations in 2026, supported by partnerships and government awards. The $12.01 price target reflects moderate confidence in Archer's path to commercialization, though risks include high cash burn and certification delays. Investors are advised to watch Phase 4 milestones and operational progress closely.