Baird Starts Aeva Technologies Inc. (AEVA) at Outperform
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Baird analyst Tristan Gerra initiates coverage on Aeva Technologies Inc. (NYSE: AEVA) with a Outperform rating and a price target of $20.00.
The analyst comments "FMCW (Frequency Modulated Continuous Wave) is touted by industry participants as the most advanced, next-generation lidar technology, and Aeva is ahead in terms of customer traction with its FMCW lidar technology, for which it has a proprietary implementation validated by a number of patents. Announced automotive engagements include Audi, Volkswagen, Denso, ZF, and TuSimple. Aeva is also targeting the mass-volume consumer market, a unique angle among pure play lidar companies with very high potential. Consumer opportunities include 3D measurement and biometrics among many other applications. Outperform-rated."
Shares of Aeva Technologies Inc. closed at $11.32 yesterday.
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