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:
- Morgan Stanley initiated Joby Aviation with an "Overweight" rating, identifying it as an early leader in the rapidly growing eVTOL air taxi market, projected to be worth $1-9 trillion by 2040-2050.
- The positive assessment considers Joby's plan for FAA certification by 2023 and commercial service in 2024, expecting flight testing milestones to drive stock performance despite inherent risks.
- Joby has demonstrated significant progress, achieving a 150-mile flight range and forming strategic partnerships with entities like NASA (for noise assessment), Toyota, and Uber.
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