Al Root
After making big moves on Monday, investors are thinking about what's next for flying car stocks.
Shares of Joby, Archer Aviation, and Beta Technologies were on the move again on Tuesday. Beta stock was up the most, for good reason.
Monday afternoon, Transportation Secretary Sean P. Duffy and the Federal Aviation Administration announced eight proposals selected for the brand-new Advanced Air Mobility and Electric Vertical Takeoff and Landing (eVTOL) Integration Pilot Program (eIPP).
eVTOLs are quiet, relatively low-cost aircraft, sometimes referred to as flying cars, that potentially open up new urban air taxi markets. The eIPP is designed to bring eVTOLs to consumers faster, in part by providing opportunities for real-world testing. The program was part of President Donald Trump's June executive order called "Unleashing American Drone Dominance."
The pilot programs announced include air taxis in New York, New Jersey, and other states, cargo transport in Louisiana, and medical transport in North Carolina, among other projects.
"These partnerships will help us better understand how to safely and efficiently integrate these aircraft into the National Airspace System," said FAA Deputy Administrator Chris Rocheleau. "The program will provide valuable operational experience that will inform the standards needed to enable safe Advanced Air Mobility operations. We appreciate the strong interest reflected in the many proposals we received."
Joby stock rose 5.1% on Monday. Shares were up 2.6% in early trading on Tuesday at $10.30, while the S&P 500 and Dow Jones Industrial Average were down 0.3% and 0.4%, respectively.
Archer stock rose 4.2% on Monday. Shares were up 1.3% early on Tuesday at $6.60. Beta Technologies' stock rose 11.9% on Monday. Shares were up 3.3% in early trading on Tuesday at $22.27.
Beta won the day as it was selected for seven of the eight pilot projects. Joby was named on five. Archer was named on three.
"We had expected Beta to be the main beneficiary from eIPP, given its industry-leading flight hour (125,000 nautical flight miles as of late 2025) and use-case experience (cargo, medical, passenger), and we are encouraged by the 7 projects awarded," wrote Cantor Fitzgerald analyst Andres Sheppard on Monday.
Along with aircraft, Beta makes hybrid propulsion systems and charging infrastructure for eVTOLs.
Sheppard rates Beta shares a Buy and has a $38 price target. Beta remains the most popular stock of Joby and Archer. All eight, or 100%, of analysts covering Beta stock rate shares Buy. The average Buy-rating ratio for stocks in the S&P 500 is currently about 59%. The average analyst price target for Beta stock is about $37.
Archer has a Buy-rating ratio of 75% and an average price target of just under $12. Joby has a Buy-rating ratio of 30% and an average price target of just under $13.
Target prices value Beta at about $8.5 billion, Archer at $9 billion, and Joby at roughly $13 billion.
Write to Al Root at allen.root@dowjones.com
.
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
March 10, 2026 11:21 ET (15:21 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
Comments