BofA starts Freyr Battery with Buy on substantial opportunity

As previously reported, BofA analyst Julien Dumoulin-Smith initiated coverage of Freyr Battery with a Buy rating and $13 price target. The analyst believes battery storage demand remains underappreciated and that Freyr’s market opportunity is substantial if the company can execute. Electric vehicles offer a "free option" at current share levels, creating a "compelling" risk/reward skew, the firm contends.