While much of the world is immured in the events in and around Israel right now, there’s still a bit of hope for a dream to come true for many. The concept of the electric flying car is alive and well at electric vehicle stock Joby Aviation (NYSE:JOBY). It’s so alive and well that it looks for a big new development by 2025. That was enough to budge Joby up fractionally in the closing minutes of Monday’s trading.
Joby made it pretty clear: it’s on track to make the electric flying taxi concept commercially available in 2025. That was cemented rather nicely as Joby delivered its first electric vertical take-off and landing (eVTOL) vehicle to the Air Force just weeks ago. Joby’s goal has been to produce a whole new kind of electric vehicle, one that’s much safer and quieter than many of its contemporaries and that could be produced at scale sufficiently to make the eVTOL a daily driver for many.
While early pricing will be substantial—service fees will start at $5 a mile and hopefully come down from there—the idea of basically being able to summon a helicopter like an Uber will undoubtedly prove welcome.
What is the Target Price for JOBY Stock?
While Joby Aviation isn’t extensively covered by analysts, it does have some support to it. With two Buy ratings and one Sell, Joby Aviation stock is rated a Moderate Buy. Further, with an average price target of $9, Joby Aviation stock offers investors 38.14% upside potential.
