Joby Aviation (JOBY) 股票 fair value 调整专家观点分歧后判决结果影响

Bailey Pemberton

Thu, October 15, 2026 at 12:12 AM GMT+9 4 min read

Joby Aviation is back in focus after Barclays analyst Anthony Valentini cut the price target from US$6 to US$4 and moved the stock to an Underweight rating following an October 2026 legal verdict. That change sits alongside a broader split in analyst opinion, with bulls and bears debating how to reconcile Joby Aviation's growth ambitions, defense exposure and current valuation. As you read on, you will see how these shifting targets and narratives fit together and how to keep track of where the story goes next.

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What Wall Street Has Been Saying

🐂 Bullish Takeaways

H.C. Wainwright highlights Joby Aviation's acquisition of Resonant Sciences as a way to build a dedicated defense business unit. The firm notes that this business may be supported by faster revenue timing and lower certification friction compared with the commercial side.
The firm points to Resonant's first half of 2026 bookings, which it says are more than three times 2025 levels, and a backlog that it states has more than doubled year over year. It uses these data points to frame a long term growth opportunity for Joby.
H.C. Wainwright reiterates a Buy rating with a US$18 price target, which it describes as a more optimistic stance on Joby Aviation's execution and long run revenue potential than the more cautious views on the stock.

🐻 Bearish Takeaways

Barclays assumes coverage on Joby Aviation with an Underweight rating and cuts its price target from US$6 to US$4, arguing that the current valuation looks rich compared with the risks it sees around market share and execution.
Barclays questions whether Joby's aircraft payload capacity and planned manufacturing footprint are sufficient to serve a broad eVTOL market, especially if the company aims to manufacture, operate and service its own fleet in a brand new category.

Do your thoughts align with the Bull or Bear Analysts? Perhaps you think there's more to the story. Head to the Simply Wall St Community to discover more perspectives!

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How This Changes the Fair Value For Joby Aviation

Fair value estimate moved from about US$10.68 to about US$10.34 per share.
Assumed long term revenue growth rate changed from about 83.48% to about 84.32%.
Assumed net profit margin moved from about 6.24% to about 5.59%.
Future P/E multiple in the model adjusted from about 358.7x to about 390.2x.
Discount rate used in the valuation shifted from about 8.25% to about 8.22%.