QuantumScape price target lowered to $6 from $8 at Truist

Truist lowered the firm’s price target on QuantumScape to $6 from $8 and keeps a Hold rating on the shares. The company’s above-$1B liquidity and improvements to cash burn achieved over the last several quarters have extended its current cash runway into 2026 as it continues along its commercial scale-up path, the analyst tells investors in a research note. Truist adds however that while it continue to see QuantumScape as a leader in next-gen battery technology, the nearer-term negative EV headlines and commercial-scale production are still far out, which will keep a ceiling on the shares.