BUZZ-Air taxi makers Archer and Joby fall after J.P. Morgan cuts ratings

Shares of air taxi makers Archer Aviation ACHR.N fall 4% and Joby Aviation JOBY.N 5.27% in premarket trade

J.P. Morgan cuts ACHR rating to "neutral" from "overweight" and JOBY to "underweight" from "neutral"

Brokerage says despite expected deregulation under the new Trump administration, which could streamline Federal Aviation Administration approval, "the bulk of the work remains in the companies hands"

"ACHR and JOBY will remain stringent around safety standards and testing to eliminate chances of reputational risk when market is still nascent" - brokerage

In 2024, ACHR was up 58.8% and JOBY was up 22.2%

(Reporting by Anshuman Tripathy)

((Anshuman.Tripathy@thomsonreuters.com))