Joby Aviation shares are trading lower after JP Morgan downgraded the stock from Neutral to Underweight but raised its price target from $5 to $6.
Portfolio Pulse from Benzinga Newsdesk
JP Morgan has downgraded Joby Aviation's stock from Neutral to Underweight, despite raising its price target from $5 to $6. This has resulted in Joby Aviation shares trading lower.
July 19, 2023 | 2:02 pm
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NEGATIVE IMPACT
Joby Aviation's stock has been downgraded by JP Morgan, leading to a decrease in share price. However, the price target has been raised from $5 to $6.
JP Morgan's downgrade of Joby Aviation's stock from Neutral to Underweight indicates a negative outlook for the company's stock. This has led to a decrease in the share price. However, the increase in the price target from $5 to $6 suggests that JP Morgan sees potential for growth in the long term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100