JPMorgan analyst Bill Peterson lowered the firm’s price target on Joby Aviation (JOBY) to $7 from $8 and keeps an Underweight rating on the shares post the Q4 report. The company showed “steady execution” in Q4 but its cash burn is likely to trend higher, the analyst tells investors in a research note. JPMorgan believes Joby’s longer-term success is priced into the shares.
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