QuantumScape (QS)’s Pilot Product Draws Analyst Attention

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Evercore ISI discussed solid-state battery firm QuantumScape Corporation (NASDAQ:QS)’s shares in late February. The bank kept an In-Line rating for the stock and reduced the share price target to $10 from $12. The development came after HSBC had covered the stock on February 19th. The bank had raised QuantumScape Corporation (NASDAQ:QS)’s rating to Hold from Reduce and cut the share price target to $8.3 from $10.50. As part of the coverage, HSBC outlined that while QuantumScape Corporation (NASDAQ:QS) was progressing with its Eagle Line solid-state battery production, the firm would be better served to provide clarity about contracts and revenue streams.

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Eagle Line is the firm’s automated production line for the solid-state lithium-metal cells called QSE-5. QuantumScape Corporation (NASDAQ:QS) inaugurated the Eagle Line pilot at the start of February and outlined that Eagle Line would allow it to ship cells to customers for testing, demonstration, and product integration.