- Morgan Stanley analyst Kristine Liwag initiated Joby Aviation Inc JOBY with an Overweight rating and a price target of $16, implying an upside of 65.55%.
- Liwag sees a wide range of potential outcomes for the company depending on its ability to execute and the regulatory environment but believes the risks are skewed to the upside.
- She states that Joby is a first mover to address the urban air mobility market, with a total addressable market of $1 trillion in 2040 and $9 trillion in 2050.
- Joby Aviation and NASA recently joined forces to study the acoustic signature of the all-electric Joby aircraft, which the company intends to operate as part of a commercial passenger service beginning in 2024.
- Price Action: JOBY shares are trading higher by 8.38% at $10.48 during the premarket session on Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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