Investors may not see the risks in Joby Aviation, a company known for making electric planes, Deutsche Bank has warned. Analyst Edison Yu downgraded the stock to sell from hold. Yu also cut $2 from his price target to $4. The new target suggests the stock could slide 11.1%. Yu noted that the weight of the plane raised questions and led him to think that the design was “too aggressive.” He said current designs rely on high-performance parts but are more difficult to get approved by regulators. “Operationally, even though Joby is considered a leader in the industry, its development path [electric vertical takeoff and landing] the plane looks increasingly challenging for us because we think the plane has been dealing with weight management issues,” Yu said in a Tuesday note to clients. The stock lost 3.3% in premarket trading. It’s up 34.3% this year after losing 36.9% and 54.1% in 2021 and 2022. Yu said Joby is currently building an “enterprise-compliant” iteration of the eVOTL, meaning it won’t get a test credit with the Federal Aviation Administration while having a pilot on board. He also said no . good visibility of the regulation and certification process for aircraft with different parts of the project at different stages. It is worth noting that the company is considered a leader in the space despite the warning. a large headcount of around 1,400 people and a high level of integration. — CNBC’s Michael Bloom contributed to this report.