Austin Moeller, an analyst from Canaccord Genuity, maintained the Buy rating on Joby Aviation (JOBY – Research Report). The associated price target remains the same with $11.50.
Austin Moeller has given his Buy rating due to a combination of factors that highlight Joby Aviation’s significant progress and potential in the electric air taxi market. The company recently achieved a major milestone by successfully completing a piloted full-transition flight, marking a crucial step in its development and showcasing its technological capabilities. This accomplishment underscores Joby’s ability to transition from vertical lift to cruise flight, a critical function for future urban air mobility services.
Moreover, Joby has demonstrated a robust testing regime, including extensive piloted and remote flights, which positions it ahead of its competitors in terms of flight data and operational experience. The company’s ongoing efforts, such as its Integrated Test Lab and military collaborations, further validate the reliability and redundancy of its eVTOL design. With plans to deliver a production aircraft for evaluation flights in Dubai by mid-2025, Joby’s strategic advancements and clear path to commercialization support the Buy rating and the projected price target of $11.50.
In another report released today, H.C. Wainwright also maintained a Buy rating on the stock with a $9.00 price target.
JOBY’s price has also changed moderately for the past six months – from $5.010 to $6.560, which is a 30.94% increase.