QuantumScape initiated with an Outperform at Evercore ISI

Evercore ISI analyst Chris McNally initiated coverage of QuantumScape with an Outperform rating and $10 price target. QuantumScape is a U.S.-based electric vehicle battery start-up creating an anodeless, solid-state lithium-metal battery which has both significantly higher density and decreased charging times, the analyst tells investors in a research note. The firm says the company is creating a key next-generation battery technology “that all EV investors will need to monitor over the coming years.”