Evercore ISI downgraded QuantumScape (QS) to In Line from Outperform with a price target of $12, up from $8. The firm cites valuation for the downgrade with the shares up 200% year-to-date The analyst gives QuantumScape positive consideration to its non-auto opportunities in humanoid, drone and storage, but says material auto revenue now appears more likely to start in 2029.
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