Analyst Gabriel Daoud of TD Cowen maintained a Hold rating on QuantumScape (QS – Research Report), retaining the price target of $5.00.
Gabriel Daoud has given his Hold rating due to a combination of factors surrounding QuantumScape’s current business developments and market conditions. The company has made progress with its licensing model, notably through a joint development agreement with Murata Manufacturing, which is expected to enhance the production of ceramic films for solid-state batteries. This partnership is anticipated to accelerate the industrialization of QuantumScape’s technology, although the full impact remains to be seen.
Despite these positive developments, QuantumScape faces significant competition from established players like CATL and BYD, who are advancing their own battery technologies. These competitors have announced innovations such as five-minute fast charging, though comprehensive data is lacking. Additionally, while QuantumScape’s anodeless design offers potential cost and supply chain benefits, the overall market environment and technological challenges suggest a cautious approach, justifying the Hold rating.
According to TipRanks, Daoud is an analyst with an average return of -18.9% and a 28.67% success rate. Daoud covers the Energy sector, focusing on stocks such as Gulfport Energy, Civitas Resources, and CNX Resources.