Joby Aviation, Inc. (JOBY) saw its shares surge over 5% in pre-market trading on Tuesday, boosted by two positive developments that increased investor enthusiasm for the electric air taxi company.

Firstly, Joby announced that its aircraft is now available in the latest release of Microsoft Flight Simulator 2024. This integration allows aviation enthusiasts worldwide to experience piloting Joby's electric air taxi, potentially raising awareness and interest in the company's innovative transportation solution. The collaboration with Microsoft reflects Joby's progress in bringing its aircraft closer to commercial reality.

Additionally, Needham initiated coverage on Joby with a "Buy" rating and a $8 price target. The analyst cited Joby's strategic positioning and strong growth potential in the emerging air taxi market as key factors behind the bullish outlook. This positive analyst coverage provides validation of Joby's business prospects and could attract more investors to the stock.