Joby Aviation price target lowered to $5 from $6 at JPMorgan

JPMorgan lowered the firm’s price target on Joby Aviation (JOBY) to $5 from $6 and keeps an Underweight rating on the shares following the Q4 report. The company’s commercial launch in Dubai faces risk of further delay, the analyst tells investors in a research note. The firm says Joby’s language around entry into service in Dubai has shifted from as soon as late 2025 to “carrying first passengers” in late 2025 or early 2026.