Joby Aviation, Inc. (JOBY) saw its stock surge 6.92% on Friday, January 24th, during the intraday trading session. The electric vertical takeoff and landing (eVTOL) company's shares rallied on the back of analysts' positive sentiment and expectations for its future growth in the rapidly expanding eVTOL market.
Analysts at several firms, including Cantor Fitzgerald, JPMorgan Chase, Needham & Company, HC Wainwright, and Canaccord Genuity Group, have expressed optimism about Joby Aviation. Cantor Fitzgerald reiterated its 'Overweight' rating and $10 price target, while Needham and HC Wainwright issued 'Buy' ratings with price targets of $10 and $9, respectively. Canaccord Genuity also maintained a 'Buy' rating and raised its price target to $11.50.
The surge in investor interest and confidence in Joby Aviation's ability to deliver on its long-term promise in the fast-growing eVTOL segment have been driving factors behind the stock's recent rally. With the company expected to continue making progress in this emerging market, analysts anticipate further growth potential for Joby Aviation's shares.
Comments