tiprankstipranks
Trending News
More News >

Joby Aviation funds from Toyota strengthens investor confidence, says Canaccord

Canaccord analyst Austin Moeller updated the Joby Aviation (JOBY) model to reflect the new share count following Toyota’s (TM) investment of its first $250M equity tranche in Joby Aviation (of $500M total expected in 2025). Toyota acquired 49.7M shares of Joby last week at a $5.03 purchase price. Irrespective of the dilution effect, investors clearly viewed the news of Toyota’s strong confidence in Joby as a strategic partner last week positively. Canaccore reiterated its Buy rating and $12 price target on Joby Aviation shares.

Confident Investing Starts Here:

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Disclaimer & Disclosure

Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.

Report an Issue