H.C. Wainwright Reiterates Buy Rating on (JOBY)

H.C. Wainwright analyst Amit Dayal reiterated a Buy rating and $9.00 price target on (NYSE: JOBY).

The analyst commented: "After the market closed on May 27, Joby Aviation, Inc. announced that Toyota Motor Corporation (TM; not rated), the company’s largest shareholder, has closed the first $250M tranche of a previously announced strategic investment. According to the press release, Joby intends to use the proceeds for certification and commercial production of Joby’s electric air taxi. Reiterate Buy rating and $9 PT."

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Shares of closed at $8.86 yesterday.

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