Freyr could see monster gains over the next 12 months after a slow start to 2023, according to Morgan Stanley. Analyst Adam Jonas upgraded the battery stock to overweight from equal weight. "We see next 3-6 months as a catalyst window for unlocking shareholder value," Jonas said in a Wednesday note. "In our opinion, FREY is a relatively binary investment opportunity that we believe can show meaningful progress on commercial milestones." Freyr will start reporting key production metrics including uptime to show its operating capabilities.

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Persons: Freyr, Morgan Stanley, Adam Jonas, Jonas, FREY, FREYR, — CNBC's Michael Bloom Organizations: Sunwoda Mobility Energy Locations: Wednesday's, Norway