Canaccord analyst Austin Moeller raised the firm’s price target on Joby Aviation (JOBY) to $11 from $8 and keeps a Buy rating on the shares after the company announced that SK Telecom (SKM) is making an equity investment of $100M. The equity offering to SK Telecom provides Joby with a “foothold” in the Korean UAM market, the analyst tells investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on JOBY: