SES AI resumed with a Hold at Deutsche Bank

Deutsche Bank analyst Winnie Dong resumed coverage of SES AI with a Hold rating and $1.50 price target. The analyst believes the company is on track to delivering B-samples for its two JDA partners, Honda and Hyundai. However, investors are looking for clarity around SES AI’s business model, the analyst tells investors in a research note. The firm believes wholly-owning the manufacturing lines could be challenging, and a combination of licensing arrangements are more likely at present.