Joby Aviation (JOBY – Research Report), the Industrials sector company, was revisited by a Wall Street analyst today. Analyst Amit Dayal from H.C. Wainwright maintained a Buy rating on the stock and has a $9.00 price target.
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Amit Dayal has given his Buy rating due to a combination of factors including Joby Aviation’s progress in technical and flight-testing milestones, which are expected to lead to significant developments such as flight testing in Dubai and Type Inspection Authorization by the end of the year. These advancements are paving the way for the company’s initial commercial operations anticipated by early 2026. Additionally, the company has successfully transitioned to pilot-on-board flights, with the next milestone being pilot and passenger flights.
Joby Aviation’s financial position is also strong, with $813 million in cash and no debt, and further financial support expected from a $500 million commitment by Toyota. The company’s strategy of in-house vertical manufacturing aligns well with the U.S. administration’s focus on advanced manufacturing, suggesting a favorable regulatory environment for approvals and certifications. The recent appointment of a CFO is seen as a step towards transitioning to commercial operations, and the partnership with Virgin Atlantic in the UK is viewed as a strategic advantage to capture new opportunities.
Dayal covers the Industrials sector, focusing on stocks such as Plug Power, Joby Aviation, and Ceco Environmental. According to TipRanks, Dayal has an average return of -23.1% and a 25.00% success rate on recommended stocks.
In another report released on May 5, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $9.00 price target.