Canaccord raised the firm’s price target on Joby Aviation (JOBY) to $12 from $11.50 and keeps a Buy rating on the shares. The firm said Management indicated that it expects type inspection authorization (TIA) testing with the FAA to begin within the near to medium term and that the company’s $500M equity investment from Toyota (TM) was progressing smoothly, with the first $250M tranche expected to be added to the balance sheet in the current quarter.
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