1 Wall Street Analyst Boosts QuantumScape's Price Target by 60%: Here's Why He's Right
Last summer, Ben Kallo, an analyst at Baird, wasn't so optimistic about shares of QuantumScape (NYSE: QS), and he turned out to be right.
But now he believes the stock can reverse its recent downward trajectory thanks to the company's recent personnel move, and he sees it climbing back to $8 -- a 60% increase over the original $5 price target that he had assigned.
QuantumScape announced this week that its current CEO, Jagdeep Singh, is stepping down from the company's helm, and the company's president, Dr. Siva Sivaram, will take his place. In Kallo's estimation, this move will be an important catalyst in helping the company achieve commercialization of its disruptive solid state batteries.
Source Fool.com
