Amprius Technologies initiated with a Buy at Needham

Needham initiated coverage of Amprius Technologies (AMPX) with a Buy rating and $20 price target The firm believes the “global, multi-year” unmanned aerial systems “supercycle” is in the “early innings.” Amprius “stands out” as a key pure-play unmanned aerial systems battery supplier, the analyst tells investors in a research note. Needham says the company is “supercharging this cycle” by offering the “holy grail” in silicon-anode batteries that enable drones to fly farther and stay airborne longer.