QuantumScape (QS) Bounces Back 16.8% as Analyst Ups PT

We recently published 10 Firms Dominating the Market; 5 at All-Time Highs. QuantumScape Corp. (NYSE:QS) is one of the best-performing stocks on Friday.

QuantumScape rebounded by 16.78 percent on Friday to close at $18.44 apiece as investors took path from an investment firm’s bullish outlook for its stock.

In its recent coverage, TD Cowen raised its price target for QuantumScape Corp. (NYSE:QS) to $16 from $5 previously, while maintaining a “hold” recommendation.

The revision followed QuantumScape Corp.’s (NYSE:QS) impressive earnings performance in the third quarter of the year, having narrowed its net loss by 11.5 percent to $105.8 million from $119.6 million in the same period last year.

Loss from operations dwindled by 11.6 percent to $114.99 million from $130.16 million year-on-year.

During the same period, the company successfully shipped its most advanced QS cells to date—the Cobra-based QSE-5 B1—following the launch of the product through the Volkswagen Group’s Ducati V21L motorcycle.

In line with its expansion program, QuantumScape Corp. (NYSE:QS) is underway with the installation of a highly automated cell production pilot line, the Eagle Line, at its headquarters in San Jose, California.

“We are working together with our partners to bring our groundbreaking solid-state lithium-metal battery technology to market as quickly as possible. This announcement is another critical step toward achieving our goal of revolutionizing energy storage,” QuantumScape Corp. (NYSE:QS) COO Luca Fasoli said.

While we acknowledge the potential of QS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.