HSBC analyst Laisha Zaack downgraded QuantumScape (QS) to Reduce from Hold with a price target of $10.50, up from $5.30. While the company has made progress on its targets and announced some key agreements and partnerships, visibility or the disclosure of contract economics remains limited, the analyst tells investors in a research note. HSBC believes QuantumScape shares already reflectsa “bullish scenario.” The firm now sees more risk to the downside than upside, citing a lack details on the licensing contract structure and new revenue streams.
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