Aeva price target raised to $30 from $17 at Roth Capital

Roth Capital analyst Suji Desilva raised the firm’s price target on Aeva (AEVA) to $30 from $17 and keeps a Buy rating on the shares. The shares are positioned to benefit from stabilizing automotive demand and renewed interest in potential unit ramp opportunity for lidar sensors, the analyst tells investors in a research note. The firm is “encouraged” by Aeva’s traction across both industrial, commercial vehicle, and passenger auto customer wins and pipeline engagements. Roth believes advanced driver assistance systems and autonomous programs are in the “process of unlocking over a multi-quarter period, with geographic demand mix boosted by China EV resilience.” Aeva is “showing up well by distinguishing itself with very strong technology in an increasingly slimming lidar competitive market landscape,” the firm contends.