Needham & Company Starts Solid Power (SLDP) at Buy
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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."
Shares of Solid Power closed at $7.71 yesterday.
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