JP Morgan Downgrades Joby Aviation to Underweight, Raises Price Target to $6
Portfolio Pulse from richadhand@benzinga.com
JP Morgan analyst Bill Peterson has downgraded Joby Aviation (NYSE:JOBY) from Neutral to Underweight and raised the price target from $5 to $6.
July 19, 2023 | 9:39 am
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Joby Aviation's rating has been downgraded to Underweight from Neutral by JP Morgan, although the price target has been raised from $5 to $6.
The downgrade to Underweight suggests that JP Morgan expects Joby Aviation's stock to underperform compared to other stocks. However, the increase in price target indicates a slightly more optimistic outlook on the stock's value. This mixed signal could lead to short-term uncertainty and potential downward pressure on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100