H.C. Wainwright initiated coverage of Joby Aviation with a Buy rating and $9 price target. Joby is an electric vertical take-off and landing aircraft company and in contrast to other competitors, is pursuing a vertically integrated manufacturing strategy, the analyst tells investors in a research note. The firm says the company has been completing several certification and production milestones that lead it to believe Joby could begin initial commercial operations in 2025.
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