Solid Power (SLDP – Research Report), the Industrials sector company, was revisited by a Wall Street analyst on January 19. Analyst Chris Pierce from Needham remains neutral on the stock and has a $3.00 price target.
Chris Pierce’s Buy rating for Solid Power (SLDP) emerges from the analysis of the recent positive developments within the company’s strategic partnerships and business model. The updated collaboration with SK On, a leading battery manufacturer for electric vehicles (EVs), highlights Solid Power’s early success in meeting its goals under the leadership of CEO John Van Scoter. This agreement not only underscores the potential for Solid Power’s solid-state batteries to take market share from lithium-ion counterparts but also showcases the company’s dual capability as both a cell designer and an electrolyte solution provider to the industry.
The endorsement of Solid Power’s approach by securing another cell partner and its first electrolyte solution customer is pivotal, as it supports the company’s ‘multiple shots on goal’ strategy. This strategy could lead to Solid Power benefiting from various market segments within the battery space. Furthermore, Pierce’s $3 target is rooted in a financial forecast, specifically a 5x multiplier of the estimated adjusted EBITDA for the year 2030, which is then discounted back to present value, reflecting both the growth potential and the time value of money.
SLDP’s price has also changed dramatically for the past six months – from $2.840 to $1.180, which is a -58.45% drop .
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Solid Power (SLDP) Company Description:
Decarbonization Plus Acquisition Corp III is a blank check company.
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