Morgan Stanley Starts Kodiak AI (KDK) at Equalweight

Morgan Stanley analyst Ravi Shanker initiates coverage on Kodiak AI (NASDAQ: KDK) with a Equalweight rating and a price target of $9.00.

The analyst comments: “We are initiating coverage of KDK at EW. We have long been believers in the potential of autonomous trucking, and while commercialization has taken considerably longer than originally anticipated, the industry is finally transitioning from technology development toward real-world deployment. See more detail on the TAM and autonomous market in our Autonomous Trucking Deep Dive. We believe KDK offers an attractive, albeit earlier-stage way to participate in this opportunity, combining a differentiated and relatively capital-efficient approach to autonomy with exposure across on-highway trucking, industrial (off-highway) and government/defense end markets. KDK has already started to monetize the off highway opportunity and while it remains behind autonomous trucking leader AUR in on-highway commercialization, we believe its more nimble approach, OEM relationships, lower cash burn and diversified applications provide a credible pathway to creating meaningful value if the company can execute against several critical milestones over the next few years.”

For an analyst ratings summary and ratings history on Kodiak AI click here. For more ratings news on Kodiak AI click here.

Shares of Kodiak AI closed at $3.80 yesterday.

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