** Shares of air taxi makers Archer Aviation fall 4% and Joby Aviation 5.27% in premarket trade

** J.P. Morgan cuts ACHR rating to "neutral" from "overweight" and JOBY to "underweight" from "neutral"

** Brokerage says despite expected deregulation under the new Trump administration, which could streamline Federal Aviation Administration approval, "the bulk of the work remains in the companies hands"

** "ACHR and JOBY will remain stringent around safety standards and testing to eliminate chances of reputational risk when market is still nascent" - brokerage

** In 2024, ACHR was up 58.8% and JOBY was up 22.2%

(Reporting by Anshuman Tripathy)

((Anshuman.Tripathy@thomsonreuters.com))