Why QuantumScape Stock Is Soaring Today

Shares of electric-vehicle battery start-up QuantumScape (NYSE: QS) were sharply higher on Friday, after an influential Wall Street analyst initiated coverage of the company in a bullish note.

As of 10:30 a.m. EST, QuantScape's shares were up about 15.2% from Thursday's closing price.

One of Wall Street's most widely watched auto analysts, Morgan Stanley's Adam Jonas, initiated coverage of QuantumScape with an overweight rating and a price target of $70 in a note released after the U.S. markets closed on Thursday.

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Source Fool.com