Why Freyr Battery (FREY) Stock Could Be the Best EV Bet


  • Freyr Battery (FREY) stock is the top pick of Morgan Stanley’s Adam Jonas.
  • It also got a new price target of $26 per share.
  • This has heavy trading boosting FREY shares higher today.
An electric car battery unit frey stock

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Freyr Battery (NYSE:FREY) stock is a hot topic among traders on Wednesday after Morgan Stanley weighed in on the electric vehicle (EV) company.

That comes from Morgan Stanley analyst Adam Jonas. The latest news is his new price target of $26 per share for FREY stock. That’s a boost from his previous price target of $18 per share. Investors will also note that the consensus price target for FREY is $21.50 per share.

Jonas didn’t provide an update for his rating on FREY stock, but there’s really no reason to. He’s previously given Freyr Battery a “buy” rating and without an update, that rating is still his current stance. Also, the analysts’ consensus rating for FREY is “buy.”

FREY is a Top Stock

The Morgan Stanley analyst continued to praise Freyr Battery during the firm’s 10th Annual Laguna Conference. This saw him calling FREY stock his top pick during the event.

The recent praise for FREY stock has shares seeing heavy trading on Wednesday! As of this writing, more than 14 million units of the stock have changed hands. That’s quite the jump compared to its daily average trading volume of about 1.5 million shares.

FREY stock is up 15.9% as of noon Wednesday and is up 28.8% since the start of the year.

Investors looking for more recent stock market news will want to keep reading!

InvestorPlace is home to all of the latest stock news making the rounds on Wednesday! That includes why shares of Beyond Meat (NASDAQ:BYND), Intercept Pharmaceuticals (NASDAQ:ICPT) and Digital World Acquisition (NASDAQ:DWAC) stock are in the news today. You can find out more from the following links!

More Stock Market News for Wednesday

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2022/09/why-freyr-battery-frey-stock-could-be-the-best-ev-bet/.

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