UPDATE: Roth Capital Starts Aeva Technologies Inc. (AEVA) at Buy

March 17, 2021 2:17 AM EDT
Get Alerts AEVA Hot Sheet
Price: $8.92 -6.89%

Rating Summary:
    5 Buy, 0 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 7 | Down: 16 | New: 68
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(Updated - March 17, 2021 5:05 AM EDT)

Roth Capital analyst Suji Desilva initiates coverage on Aeva Technologies Inc. (NYSE: AEVA) with a Buy rating and a price target of $30.00.

The analyst comments "Investment Opportunity in LIDAR Growth. Our AEVA price target of $30 represents a CY25 EV/Sales of ~12x discounted back to current year and a premium versus established advanced automotive semiconductor technology peers CY22 average of 8x reflecting AEVA's growth opportunity. We expect investors to steadily gain confidence in AEVA’s: 1) LIDAR market growth opportunity, 2) share gain through differentiated LIDAR technology, and, 3) high margin scalable business model. Key investment risks to AEVA share appreciation include: 1) pace of ADAS/autonomous vehicle/automotive LIDAR growth, 2) initial dependence on a handful of key automotive programs, 3) achieving AEVA LIDAR product commercialization milestones and, 4) scaling production volume/costs and securing key component supply."

For an analyst ratings summary and ratings history on Aeva Technologies Inc. click here. For more ratings news on Aeva Technologies Inc. click here.

Shares of Aeva Technologies Inc. closed at $15.08 yesterday.

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