Analyst Amit Dayal from H.C. Wainwright maintained a Buy rating on Joby Aviation (JOBY – Research Report) and keeping the price target at $9.00.
Amit Dayal has given his Buy rating due to a combination of factors that highlight Joby Aviation’s strong position and potential for growth. One of the primary reasons is the company’s robust financial standing, with over $900 million in cash and short-term investments, along with an additional $500 million commitment from Toyota. This financial strength supports Joby’s ambitious plans to initiate passenger flight operations by the end of 2025 or early 2026, particularly in Dubai.
Another significant factor is the favorable regulatory environment, which is expected to aid Joby in its certification process. The company has also demonstrated its manufacturing capabilities by achieving the capacity to produce parts for one aircraft per month, with over 95% of the composite components now fully conforming. Additionally, Joby’s progress in the defense sector, marked by the delivery of a second aircraft to Edwards Air Force Base, further strengthens its competitive position. These elements collectively contribute to Amit Dayal’s optimistic outlook on Joby Aviation’s future performance.