HSBC Initiates Coverage On QuantumScape with Reduce Rating, Announces Price Target of $4.7
Portfolio Pulse from Benzinga Newsdesk
HSBC analyst Wesley Brooks has initiated coverage on QuantumScape (NYSE:QS) with a Reduce rating and set a price target of $4.7 for the company's stock.
December 04, 2023 | 11:34 am
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QuantumScape receives a Reduce rating from HSBC with a price target of $4.7, indicating a bearish outlook from the analyst.
The initiation of coverage by HSBC with a Reduce rating suggests that the analyst believes QuantumScape's stock price may decline. The price target of $4.7, which is likely below the current trading price, reinforces this bearish outlook. This could influence investor sentiment and lead to a short-term negative impact on the stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100