Morgan Stanley analyst Kristine Liwag maintained a Hold rating on Joby Aviation yesterday and set a price target of $7.00.
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Kristine Liwag’s rating is based on Joby Aviation’s strategic acquisition of Blade Air Mobility’s passenger division, which is seen as a positive development for the company. This acquisition, valued at up to $125 million, is expected to enhance Joby’s operational capabilities by integrating Blade’s established infrastructure and customer base with Joby’s eVTOL technology.
Despite the promising aspects of this acquisition, the Hold rating suggests that there are still uncertainties or challenges that need to be addressed before a more favorable rating can be considered. These may include the successful integration of Blade’s operations, the achievement of performance-based earnouts, and the realization of expected synergies, all of which are crucial for Joby’s future growth and market performance.
In another report released yesterday, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $17.50 price target.
Based on the recent corporate insider activity of 162 insiders, corporate insider sentiment is neutral on the stock.