Archer Aviation begins air taxi test flights in Abu Dhabi, shares rise

Shares of air taxi maker Archer Aviation ACHR.N up 2.33% at $10.10 in premarket trade

Co says it has successfully completed an initial test flight of its Midnight aircraft at Al Bateen Executive Airport in Abu Dhabi

"Our initial test flight operations in the UAE represent a critical milestone as we prepare for our commercial deployment in Abu Dhabi" - ACHR CEO Adam Goldstein

Earlier this week, peer Joby Aviation JOBY.N completed first piloted air taxi flights in Dubai

7 of 9 brokerages rate the stock "buy" and 2 "hold"; their median PT is $13 - LSEG

As of last close, stock up 1.3% YTD