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ACHR - Joby Aviation: From Sell To Hold As Certification And Sales Strategy Evolve
Archer Aviation Inc. Class A
2024-05-22 20:35:12 ET
Summary
Since my sell rating, Joby has fallen ~45% due to delayed commercialization expectations, increased competition, and stricter regulations.
Joby has made notable progress with FAA certification, though potential delays may allow other markets to commercialize first, and the company continues exploring aircraft sales alongside operations to boost profitability.
The industry faces huge risks and uncertainties, but Joby's strong balance sheet and recent milestones position it well, leading me to update Joby to Hold with a $4.4 price target.