Archer Aviation (ACHR) is currently trading around $8.16, down significantly year-to-date due to ongoing certification risks and competition. Despite the challenges, analysts maintain a 'Moderate Buy' rating with a consensus price target of $18, suggesting a substantial upside potential. Key growth catalysts include FAA certification, strategic partnerships, and operations in the UAE, which could provide crucial real-world operating proof and global confidence. However, the company faces significant risks including execution risk from zero current revenue and competition from companies like Joby Aviation. Investors should be aware of the extended timeline to commercial operations and potential for further funding rounds at unfavorable prices.