UPDATE: Roth Capital Starts Aeva Technologies Inc. (AEVA) at Buy
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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."
Shares of Aeva Technologies Inc. closed at $15.08 yesterday.
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