UPDATE: JPMorgan Starts QuantumScape (QS) at Neutral

JPMorgan analyst Jose Asumendi initiates coverage on QuantumScape (NYSE: QS) with a Neutral rating and a price target of $35.00.

The analyst comments "QuantumScape (backed by VW Group) is developing solid-state battery prototypes for the automotive sector and is expected to play a vital role in the development of global solid-state battery (SSB) technology as well as VW's internal battery strategy. We initiate with a June-23 PT of $35 and Neutral rating, after considering the risks associated with successfully developing a commercially viable solid-state battery cell against the upside of QuantumScape potentially disrupting the electric battery market and accelerating mass adoption of electric vehicles."

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

Shares of QuantumScape closed at $23.57 yesterday.

You May Also Be Interested In

• UPDATE: Oppenheimer Starts Lilium N.V. (LILM) at Outperform
• Vtech Holdings Ltd. (303:HK) (VTKLY) PT Lowered to HK$57 at HSBC
• Prudential Plc. (PRU:LN) (PUK) PT Raised to GBP18.25 at HSBC