HSBC last night upgraded QuantumScape to Hold from Reduce with a price target of $8.30, down from $10.50. The company achieved its 2025 targets and is "on a solid road to mass-market commercialization," the analyst tells investors in a research note. HSBC is "encouraged" by QuantumScapes "steady progress" towards commercialization after the inauguration of the Eagle Line. However, the firm still lacks details on the company's licensing contract structure and revenue streams.
