In a recent update, Canaccord Genuity has announced significant changes to its position on Aeva Technologies (AEVA, Financial). The firm has decided to maintain its "Buy" rating on the stock. The decision reflects continued confidence in Aeva Technologies and its market potential.
Importantly, analyst George Gianarikas at Canaccord Genuity has raised the price target for AEVA from a previous target of USD 9.50 to USD 16.00. This adjustment signifies a substantial increase of 68.42% in the price target, highlighting a positive outlook on the company's future performance.
Investors and market watchers keeping an eye on Aeva Technologies (AEVA, Financial) will note this optimistic signal from Canaccord Genuity as the firm underscores its belief in the stock's ability to reach the new price level.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 4 analysts, the average target price for Aeva Technologies Inc (AEVA, Financial) is $5.47 with a high estimate of $6.00 and a low estimate of $4.87. The average target implies an downside of 62.16% from the current price of $14.45. More detailed estimate data can be found on the Aeva Technologies Inc (AEVA) Forecast page.
Based on the consensus recommendation from 4 brokerage firms, Aeva Technologies Inc's (AEVA, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Aeva Technologies Inc (AEVA, Financial) in one year is $7.64, suggesting a downside of 47.13% from the current price of $14.45. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Aeva Technologies Inc (AEVA) Summary page.
