Oppenheimer rates Amprius, Electrovaya, Aeva, Ouster as Outperform with price targets $17, $14, $33, $39 respectively.
Oppenheimer expects defense spending surge, citing Trump admin’s $1.5 trillion DoW budget request and domestic manufacturing expansion.
Company-specific revenue forecasts: AMPX Q1 FY2026 $25.7 M, full‑year ≥$125 M; ELVA Q2 FY2026 $15.8 M; AEVA FY2026 $30‑36 M; OUST Q1 $45.7 M.
Ouster doubled software bookings FY2025, expanding deployments to over 1,200 sites and securing DOT projects in multiple states.