Analyst Gabriel Daoud of TD Cowen maintained a Hold rating on QuantumScape (QS – Research Report), with a price target of $8.00.
Gabriel Daoud has given his Hold rating due to a combination of factors. QuantumScape has shown continued progress, particularly in the area of cycle life results on A0 samples shipped in 2022. The company’s focus remains primarily on electric vehicles (EVs), with further engagement in the consumer electronics (CE) space indicating a dual-purpose design. However, high-volume B-samples are not expected until year end 2025, with C-samples on track for 2026/2027, and QSE-5 cells in EVs likely by 2028. This timeline informs Daoud’s rating as it reflects the long-term nature of QuantumScape’s developmental progress.
QuantumScape’s progress on its 2023 goals is another contributing factor, with A0 testing updates, new customer engagements, and product development and manufacturing advancements being key highlights. The company has also made strides in its next-generation fast separator heat treatment process, Raptor, which is targeted for deployment by year end. Furthermore, QuantumScape has made progress on Cobra, expected to support higher-volume B-sample production from the QS-0 pre-pilot line in 2025. Despite these advancements, Daoud’s Hold rating is influenced by the lengthy timelines and the ongoing work required, particularly on the reliability front.
According to TipRanks, Daoud is an analyst with an average return of -9.9% and a 37.61% success rate. Daoud covers the Energy sector, focusing on stocks such as EVgo, Ovintiv, and Matador Resources.
In another report released on October 24, Truist Financial also maintained a Hold rating on the stock with a $7.00 price target.
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QuantumScape (QS) Company Description:
QuantumScape Corp is engaged in development of next generation solid-state lithium-metal batteries for use in electric vehicles.
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