Why QuantumScape Is Charging Higher Today

Solid state battery maker QuantumScape (NYSE: QS) may have finally reached its bottom and is using it as an inflection point to run higher. Shares closed 15.7% higher Monday after an analyst initiated coverage with a neutral rating.

UBS analyst Chris Snyder had said on Friday QuantumScape has a leadership position in a technology looking to disrupt a $300 billion industry, along with establishing relationships with key auto industry original equipment manufacturers (OEMs). All Snyder wants to see is QuantumScape hitting its marks on commercialization. He set an $18-per-share price target, some 27% above where the stock had previously closed.

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Source Fool.com