So, let’s look at three flying car stocks brimming with potential. To get the list, I used the filters below:
- Potential upside of more than 100%,
- Buy ratings from analysts.
Then, I sorted the stocks based on the highest potential upside from highest to lowest, and the top three are as follows.
Archer Aviation (ACHR)
Archer Aviation (NYSE:ACHR) designs and develops eVTOLs for urban air mobility (UAM) networks. The company owns Midnight, an eVTOL that can carry up to four passengers and travel up to 100 miles at a speed of up to 150 mph.
While the company is better known for its Archer UAM business ride-sharing program, it also intends to sell cargo aircraft for military and commercial use under the Archer Direct business. The FAA has granted Midnight the final airworthiness criteria, bringing Archer’s electric flying taxis closer to everyday reality.
Archer reported promising news for Q1’24. The company’s testing campaign saw over 100 flights, progressing toward the crucial transition milestone of vertical to wing-borne flight.
Midnight’s key systems have also passed rigorous tests, and the final assembly of the first conforming aircraft is advancing swiftly. Piloted flight tests are set for later this year. Due to its promising progress, analysts have given ACHR stock a strong buy. It also has a $12 high target price, which puts its potential upside at more than 266%. If you are looking for a flying car stock, ACHR should be on your watchlist.
Lilium NV (LILM)
Lilium NV (NASDAQ:LILM) is the developer and producer of the Lilium Jet, which is built on the company’s proprietary Ducted Electric Vectored Thrust (DEVT) technology. The jet has a 6-passenger capacity, a maximum speed of 300km/h, and a maximum range of 300km.
The company now plans to build a bigger Lilium Jet that can hold up to 15 passengers as part of its ultra-luxury offering. It also recently announced that it is in advanced discussions with the French government to expand its high-volume capacity and industrial footprint in France.
Lilium’s shareholder update marked an important milestone: It secured design organizational approval from the European Union Aviation Safety Agency (EASA). This made it the first company to qualify for its full-type certificate under EASA’s SC-VTOL rules.
The company is currently building a state-of-the-art facility, which will be used for certification testing of Lilium jets. This will help ensure high-quality production just in time after it announced receiving orders from U.S. operator Urbanlink. No wonder Wall Street rates the company as a buy with a potential upside of 122% in the next 12 months.
Joby Aviation (JOBY)
Joby Aviation (NYSE:JOBY) is one of the top names in the air taxi business. The company’s eVTOL aircraft can move at 200 mph and a distance of 50 miles per charge for four passengers.
The company is now working with NASA to research air taxis used in U.S. airports, an important partnership that distinguishes it from other air taxi companies. It has completed its pre-production test flight program and will move on to for-credit flight testing. This is a significant milestone in its continued aim for commercialization.
Joby Aviation’s Q1’24 results came in strong. The company is rolling out a second prototype aircraft and expanding its manufacturing facilities in California and Ohio. Joby is the first electric air taxi company to pass the FAA’s airworthiness criteria after more than 1,500 eVTOL flights and initiated system-level tests.
In addition, its multilateral agreement in Abu Dhabi and collaboration with the U.S. Air Force are excellent catalysts for its growth. With its 120% potential upside and constant positive news, it’s no surprise why Wall Street rates it as a buy. This makes JOBY stock one of the best flying car stocks today.
On the date of publication, Rick Orford did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Rick Orford is a Wall Street Journal best-selling author, investor, influencer, and mentor. His work has appeared in the most authoritative publications, including Good Morning America, Washington Post, Yahoo Finance, MSN, Business Insider, NBC, FOX, CBS, and ABC News.