J.P. Morgan analyst Bill Peterson maintained a Sell rating on Joby Aviation today and set a price target of $7.00.
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Bill Peterson’s rating is based on a combination of factors that highlight both the potential and the challenges facing Joby Aviation. Despite Joby’s promising advancements in the electric vertical takeoff and landing (eVTOL) industry, including strategic partnerships and a diversified market approach, the company is expected to remain unprofitable for several years. This financial outlook is compounded by the need for additional capital raises to support its commercialization efforts and next-generation aircraft programs.
Furthermore, while Joby has made significant progress in certification and manufacturing, the current stock price already reflects much of the anticipated long-term success. The high execution risks, coupled with the potential for lower-than-expected adoption rates and competition, contribute to the cautious outlook. As a result, Peterson maintains a Sell rating, suggesting that the stock is overvalued at present levels, with a price target of $7 by December 2026.
According to TipRanks, Peterson is an analyst with an average return of -7.5% and a 42.05% success rate. Peterson covers the Basic Materials sector, focusing on stocks such as Freeport-McMoRan, Commercial Metals Company, and MP Materials.