Freyr Battery Shares Jump Following Analyst Upgrade: Anticipates 'Meaningful Progress On Commercial Milestones'
Portfolio Pulse from Priya Nigam
Shares of Freyr Battery SA (NYSE:FREY) rose in premarket trading following an upgrade from Morgan Stanley analyst Adam Jonas. Jonas upgraded the rating from Equal-Weight to Overweight, maintaining a price target of $13. He anticipates the company will make 'meaningful progress on commercial milestones', which could unlock funding events. Jonas also noted that more than 10 strategic and industrial partners are currently evaluating the investment opportunity.
June 29, 2023 | 2:50 pm
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Freyr Battery's stock rose following an upgrade from Morgan Stanley. The company is expected to make significant progress on commercial milestones, which could unlock funding events.
The upgrade from Morgan Stanley is a positive signal for Freyr Battery. The anticipation of 'meaningful progress on commercial milestones' indicates potential growth and success for the company, which could attract more investors and drive the stock price up.
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IMPORTANCE 80
RELEVANCE 100