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, highlighting its position as an early leader in the rapidly expanding eVTOL air taxi market, projected to reach $1 trillion by 2040.
- The company aims for FAA certification of its first eVTOL aircraft by 2023 and commercial service by 2024, despite the substantial risks associated with its plan to operate as both an aircraft manufacturer and an airline.
- Joby has demonstrated significant progress, including achieving a 150-sm flight range, partnering with NASA for noise assessment studies, and securing strategic investments from companies like Uber and Toyota.
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