Joby Aviation is an early standout in the rapidly evolving air taxi race, according to Morgan Stanley analysts in their first ratings report on the eVTOL developer since it went public in August.
Is Joby Aviation Wall Street’s New Darling of eVTOL?
Key Takeaways:
- Joby Aviation received an "Overweight" rating and a $16 target price from Morgan Stanley, positioning it as an early leader in the rapidly growing, multi-trillion-dollar eVTOL air taxi market.
- The company plans commercial service by 2024, contingent on securing crucial FAA certification for both its manufacturing process and aircraft airworthiness, expected in 2023.
- Joby has demonstrated significant progress, including a 150-sm flight range, and has strategic partnerships with entities like NASA, Toyota, and Uber.
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