William Blair analyst Jed Dorsheimer has maintained their neutral stance on QS stock, giving a Hold rating on July 24.
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Jed Dorsheimer has given his Hold rating due to a combination of factors surrounding QuantumScape’s current business developments and market conditions. The company has made strides by expanding its relationship with Volkswagen’s PowerCo and adding another automotive original equipment manufacturer (OEM) to its partnerships, which are positive steps in customer collaboration. However, the focus of the recent quarter was more on operational tasks like building sample cells for validation, and there remains uncertainty about when QuantumScape’s batteries will be integrated into production vehicles.
Additionally, while Volkswagen’s expanded role as a distributor and the potential for QuantumScape to participate in the drone industry offer promising opportunities, these developments are still in early stages with limited details. The introduction of the new Cobra process, which significantly improves ceramic processing technology, is a notable advancement, but it also lacks comprehensive details. Given these factors, Dorsheimer maintains a cautious outlook, opting for a Hold rating until there is more clarity on the company’s production timeline and market integration.
In another report released on July 24, Robert W. Baird also maintained a Hold rating on the stock with a $11.00 price target.