Here's What's Going On With Microvast Stock Thursday
Portfolio Pulse from Adam Eckert
Microvast Holdings Inc's (NASDAQ:MVST) shares are trading higher after Janney Montgomery Scott initiated coverage on the stock with a Buy rating and a price target of $8. This makes it the fourth analyst firm to set an $8 price target, joining Piper Sandler, Oppenheimer, and HC Wainwright & Co. Morgan Stanley has a lower price target of $4. Microvast's shares are up 37% year-to-date, but down more than 12% over the last year. The company beat estimates in its last quarterly results and expects further growth in orders.
August 31, 2023 | 3:09 pm
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Microvast's stock is trading higher after Janney Montgomery Scott initiated coverage with a Buy rating and a price target of $8. The company's shares are up 37% year-to-date, but down more than 12% over the last year.
The initiation of coverage by Janney Montgomery Scott with a Buy rating and a price target of $8 is a positive signal for Microvast's stock. This, along with the company's recent performance and expectations for further growth in orders, could lead to a short-term increase in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100