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Investing.com - Cantor Fitzgerald has reiterated its Neutral rating and $9.00 price target on Joby Aviation Inc (NYSE:JOBY), following the company’s recent operational milestone in Dubai. According to InvestingPro data, the stock currently trades at $10.55, with analyst targets ranging from $4 to $13, suggesting mixed market sentiment. The company’s market capitalization stands at $8.88 billion.
Joby Aviation has successfully completed a series of piloted, vertical-takeoff-and-landing wingborne flights in Dubai, demonstrating its readiness to begin commercial operations in the Middle East region.
The electric vertical takeoff and landing (eVTOL) aircraft manufacturer plans to commence initial passenger operations in 2026, according to company management.
Joby Aviation remains on track to establish its first commercial vertiport at Dubai International Airport (IXB), which is being developed in partnership with privately-held Skyports.
The Dubai vertiport facility is scheduled for completion by the first quarter of 2026, aligning with the company’s timeline for launching passenger services in the region.
In other recent news, Joby Aviation has successfully completed a series of piloted vertical-takeoff-and-landing flights in Dubai, marking a significant milestone in its commercial market readiness. The company announced these flights as part of its partnership with Dubai’s Roads and Transport Authority, aiming to introduce air taxi services by 2026. Joby is also developing vertiport infrastructure at key locations in Dubai, with construction underway. H.C. Wainwright reiterated its Buy rating with a $13.00 price target, citing the successful Dubai flights as evidence of strong aircraft engineering and technological capabilities. Similarly, Canaccord Genuity maintained its Buy rating with a $12.00 price target, highlighting Joby’s extensive flight testing and progress toward FAA certification. However, Cantor Fitzgerald held a Neutral rating with a $9.00 price target, expressing concerns over Joby’s cash burn rate despite a strong liquidity position. Cantor also noted a delay in Joby’s service launch timeline, now expected in the first half of 2026. These developments reflect Joby Aviation’s ongoing efforts to advance its air taxi service and infrastructure.
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