Morgan Stanley hikes PT on air-taxi maker Joby Aviation
09/10/2025 13:22
** Morgan Stanley raises PT on Joby Aviation JOBY.N to $15 from $7, maintains "equal-weight" rating ** Brokerage says changes reflect lower aircraft deliveries, but better free cash flow on modestly improved economics and significantly lower capex ** New PT still implies 13.6% downside to JOBY's last close ** Says co's recent aircraft flight tests in Dubai and Japan in 2025 make the air taxi dream "closer to reality for investors" ** Earlier this week, JOBY priced a $514 million discounted share sale ** One of 9 brokerages rates JOBY "buy", 6 "hold", and 2 "sell"; their median PT is $15 - LSEG data ** Shares of JOBY were marginally up premarket; stock up 113.7% YTD as of last close (Reporting by Anshuman Tripathy) ((Anshuman.Tripathy@thomsonreuters.com))