10 Best Nickel Stocks to Invest in According to Analysts

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1) QuantumScape Corporation (NYSE:QS)

Average Upside Potential: 47.6%

QuantumScape Corporation (NYSE:QS) is a company that is engaged in developing advanced battery technology for EVs and other applications, such as technologies that can improve the energy density of nickel manganese cobalt (NMC) and lithium iron phosphate (LFP) battery cells.

During its Q3 2024 earnings call, QuantumScape Corporation (NYSE:QS) announced the commencement of low-volume production of its B Sample cells, the QSE-5. Wall Street believes that this development is a critical milestone for the company, as these cells are the first anode-free solid-state lithium metal cells for automotive applications. The company has started low-volume production of B Sample QSE-5 cells with an energy density of 844 watt-hours per liter. The QSE-5 cells have the ability to charge from 10% to 80% in just over 12 minutes.

QuantumScape Corporation (NYSE:QS) also highlighted that a new separator production process, Raptor, should support QSE-5 production into 2025. Also, the company is collaborating with VW PowerCo under a licensing agreement that consists of a $130 million prepayment. This agreement is expected to lower capital requirements. QuantumScape Corporation (NYSE:QS) plans to leverage its partnership with VW PowerCo to improve its manufacturing capabilities and accelerate high-volume production.

Industry experts believe that, with the B Sample cells now in production and a healthy liquidity position, QuantumScape Corporation (NYSE:QS) seems to be on a path to scale up operations and deliver on its technological targets.  Analysts at Truist Financial reaffirmed a “Hold” rating on the shares of QuantumScape Corporation (NYSE:QS), issuing a $7.00 target price on 25th October.

While we acknowledge the potential of QS as an investment, our conviction lies in the belief that some deeply undervalued AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for a deeply undervalued AI stock that is more promising than QS but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.

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