Needham Reaffirms Street-High $22 Price Target on Joby Aviation (JOBY) After Q3 Results
Needham analyst Chris Pierce maintained a Buy rating on Joby Aviation (JOBY) with a Street-high $22 price target, implying 20.7% upside following the company’s third-quarter results. The electric aircraft Maker is progressing faster than anticipated toward commercial flights, bolstering investor confidence.
Joby’s S4 aircraft performance remains strong, with regulatory approval for flights nearing. Overseas interest is growing, expanding opportunities beyond the U.S. market. Early test flights in the U.S. could accelerate full-scale operations, reinforcing Joby’s leadership in electric aviation.
While mass production and revenue timelines are still evolving, steady technical and regulatory advancements outweigh uncertainties. The stock’s valuation reflects its rapid progress, with further upside potential.
