TD Cowen analyst Gabe Daoud raised the firm’s price target on QuantumScape (QS) to $16 from $5 and keeps a Hold rating on the shares. The firm updaed its model post the recent Q3 results, which provided positive updates around commercial engagement and ecosystem expansion. A new active engagement with a new Top 10 global automaker and the Murata partnership advancement are encouraging and bring the Cobra process one step closer to commercialization at scale.
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