Cantor Fitzgerald downgraded Joby Aviation (JOBY) to Neutral from Overweight with a $9 price target The firm is becoming more conservative on Joby Aviation in the near-term following the recent rally in the share price, though the firm remains bullish on the eVTOL industry over the medium- to long-term, the analyst tells investors in a research note. Joby continues to have the strongest liquidity position in the industry, but also has the highest cash burn in the industry, the firm says.
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