Aeva Technologies price target raised to $6 from $5 at Craig-Hallum

Craig-Hallum raised the firm’s price target on Aeva Technologies (AEVA) to $6 from $5 and keeps a Buy rating on the shares. The firm notes that since the beginning of the year, it has claimed that Aeva is entering a new phase of commercial progress, and not just tech/product development, and has announced a number of wins, and this phase should drive the stock higher. Unlike most other lidar names, this stock is up this year, despite little financial success yet, Craig-Hallum adds. The firm sees the potential for more commercial success in the coming year and believes it will continue to drive the stock.