Garmin wins a key aviation contract

Article Excerpt

GARMIN LTD., $95.79, is a buy. The company (Nasdaq symbol GRMN; TSINetwork Rating: Extra Risk) (Shares outstanding: 191.7 million; Market cap: $18.6 billion; Dividend yield: 3.1%) has now been selected by Archer Aviation Inc. (symbol ACHR on New York), a developer of electric vertical takeoff and landing (eVTOL) aircraft, to supply its G3000 integrated flight deck for Archer’s four-passenger Midnight eVTOL aircraft. Archer, which has partnered with United Airlines, plans to initially use these air taxis to transport passengers between city centres and airports with United hubs. It recently announced plans for its first air taxi between Newark Liberty International Airport and Downtown Manhattan Heliport in New York City. Garmin is a buy. buy…