Aeva price target raised to $11 from $5.22 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Aeva (AEVA) to $11 from $5.22 and keeps an Equal Weight rating on the shares ahead of the company reporting results after the market close on Wednesday, May 14. The firm continues to like the story following last quarter’s customer announcement, as Aeva is “clearly carving out a leadership position in Lidar,” and although the firm doesn’t expect to learn a great deal on the call, it looks forward to hearing about progress to production readiness for Daimler in 2026 as well as the new OEM customer in 2027. While the firm remains constructive on the market opportunity, it adds that material revenue is still 2027 and beyond, with “substantial risks between now and then.”