Truist analyst Jordan Levy raised the firm’s price target on QuantumScape to $10 from $8 and keeps a Hold rating on the shares. The company has passed a key milestone last quarter with the announcement of its targeted cell design for dual-use in both EVs and consumer electronics, and following that announcement, the focus for QuantumScape now shifts toward scaling up production, the analyst tells investors in a research note. Truist adds however the risk/reward over the near-term remains balanced particularly in the highly competitive EV space as large-scale production out of QuantumScape remains several years away.
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