BUZZ-<a href="https://laohu8.com/S/MTK">Morgan Stanley</a> hikes PT on air-taxi maker <a href="https://laohu8.com/S/JOBY">Joby Aviation</a>** Morgan Stanley raises PT on Joby Aviation JOBY.N to $15 from $7, maintains "equal-weight" rating
** Brokerage says changes reflect lower aircraft deliveries, but better free cash flow on modestly improved economics and significantly lower capex
** New PT still implies 13.6% downside to JOBY's last close
** Says co's recent aircraft flight tests in Dubai and Japan in 2025 make the air taxi dream "closer to reality for investors"
** Earlier this week, JOBY priced a $514 million discounted share sale
** One of 9 brokerages rates JOBY "buy", 6 "hold", and 2 "sell"; their median PT is $15 - LSEG data
** Shares of JOBY were marginally up premarket; stock up 113.7% YTD as of last close
(Reporting by Anshuman Tripathy)
((Anshuman.Tripathy@thomsonreuters.com))
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