TD Cowen lowered the firm’s price target on QuantumScape to $7 from $8 and keeps a Hold rating on the shares. The firm said the company kicked-off 2024 by shipping Alpha-2 prototype cells to customers and thus accomplishing one of its four goals for 2024 but the focus remains on ramping Raptor production delivering low volume B-samples by the year-end and setting up Cobra for a successful launch in 2025.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on QS:
- Options Volatility and Implied Earnings Moves Today, April 24, 2024
- QuantumScape price target lowered to $6 from $8 at Truist
- Quantumscape call volume above normal and directionally bullish
- Unusually active option classes on open March 28th
- Morgan Stanley upgrades U.S. auto industry view to Attractive from In-Line