QuantumScape Corp. (QS) shares soared 5.07% in Tuesday's trading session, as analysts revised their ratings and price targets on the company's stock.
HSBC upgraded QuantumScape to a "Hold" rating from "Reduce" and raised its price target to $5.30 from $4.70, citing positive sentiment surrounding the company's solid-state battery technology. This upgrade and increased price target likely contributed to the stock's upward movement.
Additionally, analysts at major firms like Jefferies, Piper Sandler, and TD Cowen also raised their price targets for QuantumScape, reflecting optimism about the company's prospects. The average analyst price target for QuantumScape currently stands at $6.48, according to FactSet.
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