BUZZ-Air-taxi maker Joby rises after reporting certification progress

Shares of Joby Aviation JOBY.N up 5% at $7 premarket

JOBY said on Tuesday it expects Type Inspection Authorization flight testing to begin in next 12 months

Co added that it plans to deliver an aircraft to Dubai in the middle of 2025 to complete flight testing

JOBY also said it received more than $1 billion of additional funding and commitments in Q4

J.P.Morgan cuts PT to $5 from $6, maintains "underweight"

"Commercial launch in Dubai faces risk of further delay and certification appears to be progressing well, supported by a manufacturing ramp up for conforming parts," brokerage says

Needham says JOBY has continued to make progress towards FAA certification and passenger flight in UAE is still largely on track

JOBY stock rose 22.2% in 2024