Wall Street Optimism Spills Over to These 10 Stocks on Friday

5. Archer Aviation Inc. (NYSE:ACHR)

Archer Aviation rose by 12.12 percent on Friday to end at $8.88 apiece as investor sentiment was boosted by an investment bank’s upgrade of its price target.

In a report, Canaccord raised ACHR’s price target to $13.50 from $13 previously while maintaining the buy rating on the stock.

According to Canaccord analyst Austin Moeller, the adjustment was based on ACHR’s strong positioning in the emerging urban air mobility market, particularly its potential to be among the first, if not the first, electric vertical takeoff and landing (eVTOL) operator for UAM.

Earlier this year, ACHR said it was ready to launch its flying taxis in Abu Dhabi this year, saying that it made great partners with Etihad and its engineering arm, among others.