Joby Aviation price target lowered to $10.50 from $11 at Canaccord

Canaccord lowered the firm’s price target on Joby Aviation to $10.50 from $11 and keeps a Buy rating on the shares. The firm said he company stated that a third production-series prototype was completed in Q2, while the second ramps up its flight test campaign and management attributed the 24% bump in operating expenses to growth in purchasing of components needed for test rigs and certification aircraft.