Needham Increases Joby Aviation (JOBY) Price Target on FAA Certification Prospects

Joby Aviation, Inc. (NYSE:JOBY) is one of the top industrial stocks to buy amid easing tariff uncertainties. On August 7, analysts at Needham raised their price target for the stock to $22 from $10, while reiterating a ‘Buy’ rating.

The research firm more than doubled its price target, impressed by positive headlines and remarkable returns over the past year. The company has been the subject of positive news, as piloted flight demonstrations helped counter concerns about the vertical takeoff and landing eVTOL aircraft sector.

According to Needham, Joby Aviation is on track for potential Federal Aviation Administration certification amid heightened momentum in aircraft production. The firm’s growing technical credibility continues to strengthen the company’s sentiments and prospects in the industry.

Joby Aviation, Inc. (NYSE:JOBY) is an industrial company that develops and operates an all-electric, vertical takeoff and landing (eVTOL) air taxi service. It is building quiet, emission-free aircraft to connect people in urban areas, aiming to provide a faster, more convenient, and more sustainable way to travel.

While we acknowledge the potential of JOBY as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.