Canaccord Genuity analyst Austin Moeller maintained a Hold rating on Joby Aviation today and set a price target of $17.00.
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Austin Moeller has given his Hold rating due to a combination of factors related to Joby Aviation’s strategic positioning and future prospects. Moeller acknowledges the potential of Joby’s partnerships with major players like Delta and Uber, which are crucial for scaling global operations and enhancing the customer experience in urban air mobility. These collaborations are expected to facilitate seamless travel experiences, which are vital for broader public acceptance and adoption of eVTOL technology.
However, despite these promising developments, Moeller seems cautious about the current market conditions and the challenges inherent in scaling such innovative technology. The acquisition of Blade’s passenger division and the integration of Uber Elevate’s software tools are positive steps, but the complexity of these integrations and the regulatory hurdles in certifying the S4 eVTOL for passenger flights contribute to the Hold rating. Moeller’s assessment reflects a balanced view, recognizing both the potential and the risks associated with Joby’s ambitious plans.
According to TipRanks, Moeller is a 4-star analyst with an average return of 8.9% and a 40.71% success rate. Moeller covers the Industrials sector, focusing on stocks such as BlackSky Technology, Joby Aviation, and Vertical Aerospace.
In another report released on August 7, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $19.50 price target.