Joby Aviation (JOBY) shares rallied nearly 30% on Wednesday after the eVTOL company said it has received a $250 million investment from Toyota (TM). 

Teaming up with the Japanese automaker offers JOBY the strategic latitude that it needs to advance through the final stages of aircraft certification and support commercial production of its electric air taxis as well. 

Joby Aviation stock is up more than 75% versus its year-to-date low. 

What Makes Joby Aviation Stock Worth Owning for 2025?

Other than Toyota, the urban mobility firm has strategic alliances with the likes of Delta Air Lines (DAL) and Virgin Atlantic as well – with the latter aimed at bringing its air taxi operations to the U.K. 

Investors should note that Joby Aviation is advancing towards FAA certification at a commendable pace. 

Plus, the company has already achieved a landmark milestone of “pilot on board” testing of its air taxis, indicating its aircraft maturing toward commercial flights.  

Finally, a robust financial stature, comprising more than $800 million worth of cash and short-term investments, suggests JOBY shares could push further to the upside in the back half of 2025. 

Canaccord Sees Another 40% Upside in JOBY Shares 

Canaccord analysts also expect the Toyota investment to unlock significant further upside in Joby Aviation stock through the remainder of this year. 

The investment firm’s “Buy” rating on JOBY shares comes with a price target of $12, indicating potential upside of another 33% from current levels. 

Among other reasons Canaccord cited for its constructive view on the eVTOL company was its commitment to initiating type inspection authorization (TIA) with the FAA in the foreseeable future. 

Canaccord is bullish on Joby Aviation also because it recently reported a much narrower than expected loss for its fiscal Q1. 

Other Wall Street Firms Recommend Caution on Joby Aviation

It’s worth mentioning, however, that other Wall Street firms are not as bullish on Joby Aviation as Canaccord. 

According to Barchart, the consensus rating on JOBY shares currently sits at “Hold” only with the mean target of $7.75 indicating potential downside of more than 13% from here.