Gauzy initiated with Buy on multiple growth drivers at TD Cowen

TD Cowen analyst Jeff Osborne initiated coverage of Gauzy with a Buy rating and $24 price target. The analyst sees multiple growth opportunities ahead, notably in aeronautics and the company’s advanced driver assistance system-focused Safety Tech unit targeting buses and trucks, the analyst tells investors in a research note. The automotive opportunity is attractive, but Gauzy’s segment is a biotech-like opportunity for growth as it looks to transition from luxury to mainstream car makers, the analyst tells investors in a research note. TD likes that the company is capital light and has multiple growth vectors ahead with multi-year contracts in hand outside of the automotive business.