Joby Aviation Stock Gains After Morgan Stanley Coverage - Read Why

  • 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.
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