Needham & Company Starts Solid Power (SLDP) at Buy

Needham & Company analyst Vikram Bagri initiates coverage on Solid Power (NASDAQ: SLDP) with a Buy rating and a price target of $13.00.

The analyst comments "We initiate coverage of Solid Power (SLDP) with a Buy rating and a $13 PT. SLDP provides a relatively early-stage investment opportunity in the EV battery industry with a projected TAM of ~$300B by 2035. The company is focused on development of a solid electrolyte and three solid state battery designs. The timelines for these products are staggered to capture medium and long term opportunities in the field. Furthermore, SLDP has a capex-light business model, no need for outside capital, backing of OEM industry heavyweights, and a decade of research experience. Our forecast is based on modest market share from only BMW and Ford without any contribution from any other OEMs."

For an analyst ratings summary and ratings history on Solid Power click here. For more ratings news on Solid Power click here.

Shares of Solid Power closed at $7.71 yesterday.

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