UPDATE: Truist Securities Starts Proterra Inc. (PTRA) at Buy

Truist Securities analyst Jordan Levy initiates coverage on Proterra Inc. (NASDAQ: PTRA) with a Buy rating and a price target of $9.00.

The analyst comments "Building off its success in the e-transit bus market, Proterra is carving out a valuable niche providing specialized battery and electrification technologies purpose-built for a broad-range of commercial vehicle classes. Coinciding with the startup of PTRA's multi-GWh Greer, SC battery facility later this year, we believe the commercial EV market has reached an inflection point further bolstered by recent supportive policies that we see driving unprecedented demand for PTRA's tech in years to come. As such, we initiate w/a Buy & $9 PT."

For an analyst ratings summary and ratings history on Proterra Inc. click here. For more ratings news on Proterra Inc. click here.

Shares of Proterra Inc. closed at $4.86 yesterday.

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