Broker Liberum has reaffirmed its buy rating on Ilika PLC (AIM:IKA, OTCQX:ILIKF) following the solid-state battery technology group’s announcement of a strategic collaboration with Tata’s Agratas to enhance its Goliath battery project.
The partnership aims to leverage both companies' resources to accelerate the commercial rollout of solid-state batteries.
“We believe the collaboration with a major corporation with deep battery chemistry expertise and a material balance sheet could represent a precursor to a strategic partnership as Ilika advances towards commericalisation in its EV roadmap,” said Liberum.
Analysts suggested that Ilika’s shares are trading at a “compelling” discount to net asset value “ ahead of several share price catalysts across its core divisions this year and next”.
Liberum gave the stock a buy rating with a 65p price target against a 30p publication price.