Northland raised the firm’s price target on Amprius Technologies (AMPX) to $20 from $10 and keeps an Outperform rating on the shares after the company announced a new CFO. Ricardo Rodriguez brings “a solid background” that will help Amprius handle the exponential growth that it is likely facing, contends the analyst, who remains “comfortable” with the firm’s near-term and long-term financial forecasts. A multiple in the top third of comparable companies is “fair” given that Amprius has proven that its technology is market leading and can be mass-produced, the analyst added.
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