UPDATE: Morgan Stanley Starts (MVST) at Underweight
- Wall Street closes rollercoaster week sharply lower
- Invesco (IVZ) Reportedly in Talks to Merge With State Street's (STT) Asset Management Business, Citi Sees More Cons than Pros
- FDA Votes "No" on Pfizer (PFE) Booster for 16+ Age Group, 2 Yes 16 No
- Jefferies Raises Price Targets on Alphabet (GOOGL) and Facebook (FB) as They Are Still Inexpensive Relative to Growth, Reiterates Snap (SNAP) as a Best Growth Idea
- Tesla (TSLA) Could Deliver 900K EV Units This Year and 1.3M in 2022 - Wedbush
Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
(Updated - August 4, 2021 8:48 AM EDT)
Morgan Stanley analyst Adam Jonas initiates coverage on (NASDAQ: MVST) with a Underweight rating and a price target of $6.00.
The analyst commented, "We view Microvast (MVST) as more of a proprietary technology venture that, under some scenarios, has the potential to scale profitably. MVST currently generates revenue from selling cells and packs featuring its gradient cathode and aramid separator for mostly Chinese production. We are intrigued by its potential to sell battery components to bigger players, but we believe it faces greater competition and higher tech/execution risk (including the need to further diversify the business outside of China) that negatively impacts the risk/reward for investors. This leads us to initiate coverage on MVST at Underweight offering 32% downside to our DCF derived $6 price target ."
Shares of closed at $8.90 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: BofA Securities Starts Rockley Photonics Holdings Ltd (RKLY) at Buy, Sees 56% Upside
- UPDATE: RBC Capital Starts Getty Realty (GTY) at Sector Perform
- Merck KGaA (MRK:GR) (MKKGY) PT Raised to EUR200 at Morgan Stanley
Create E-mail Alert Related CategoriesAnalyst Comments, Hot New Coverage, New Coverage
Related EntitiesMorgan Stanley
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!