QuantumScape price target raised to $7 from $6 at Truist

Truist raised the firm’s price target on QuantumScape to $7 from $6 and keeps a Hold rating on the shares. The firm’s site visit with the company’s management has left it incrementally positive on its progress in moving from cell design to commercial scale production, the analyst tells investors in a research note. Truist adds however that its neutral stance reflects the still significant hurdles that QuantumScape needs to overcome to reach commercial scale.