Microvast initiated with an Overweight at Cantor Fitzgerald

Cantor Fitzgerald initiated coverage of Microvast with an Overweight rating and $8 price target. Microvast has continuously innovated across critical components of the battery since its inception, lowering the vehicle total cost of ownership and reducing the need for costly input materials, the analyst tells investors in a research note. Microvast is ramping up production of its latest battery cell and scaling production of existing facilities that have the potential to generate over $1B in annual revenue by the end of next year, the firm says.