Oppenheimer analyst Colin Rusch raised the firm’s price target on Aeva (AEVA) to $33 from $18 and keeps an Outperform rating on the shares. The firm expects Aeva to provide detail on its manufacturing plans, particularly for its chip at its July 31 Analyst Day. Oppenheimer also anticipates the company providing an updated multi-year perspective on revenue ramp including customer testimonials. The firm believes Oppenheimer continues to diversify its customer base and is well positioned to compete across multiple end-markets including various industrial applications like metrology, security, and traffic management in addition to transportation opportunities in both commercial and passenger vehicles.
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