Truist Securities Reiterates Hold Rating on QuantumScape (QS)

Truist Securities analyst Jordan Levy reiterated a Hold rating and $6.00 price target on QuantumScape (NYSE: QS)

The analyst comments "QS reported largely in-line 3Q results (slightly better EBITDA/higher opex vs. Street), and importantly announced initial production and customer shipments of the first QSE-5 B-samples off the company's Raptor production line, representing a key goal outlined for the year. The company tightened its EBITDA loss guidance to the upper end of its prior range (non-recurring legal fees + settlement accruals) while lowering its capex guidance by ~29% to account for savings from the Volkswagen (VOW-GR, NR) PowerCo deal and other savings/payment shifts. Further QS noted Cobra heat treatment equipment is expected to be in place by YE24, in line with prior commentary and paving the way toward high volume B-sample production. In summary, the shift to B-sample production is an important milestone for the company/the QSE-5 product as we look for more updates on PowerCo collaboration efforts/goals into 2025."

For an analyst ratings summary and ratings history on QuantumScape click here. For more ratings news on QuantumScape click here.

Shares of QuantumScape closed at $5.18 yesterday.

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