Benzinga | Jul 23, 2021 03:03PM EDT

Deutsche Initiates Coverage On Indie Semiconductor With Buy, Sees 67% Upside

* Deutsche Bank analyst Ross Seymore initiated coverage of Indie Semiconductor Inc (NASDAQ:INDI) with a Buy rating and $14 price target, implying 66.7% upside.

* As per Seymore, the company offers compelling growth potential in the AutoTech market, one of the most attractive secular growth areas within the semiconductor sector.

* Indie's decade-plus strategic focus on the automotive market has caused significant traction with customers.

* Price action: INDI shares traded higher by 3.75% at $8.57 on the last check Friday.