Cantor Fitzgerald Starts Ecarx Holdings Inc. (ECX) at Overweight

Cantor Fitzgerald analyst Derek Soderberg initiates coverage on Ecarx Holdings Inc. (NASDAQ: ECX) with a Overweight rating and a price target of $10.00.

The analyst comments "We are initiating coverage of ECARX Holdings (“ECX”) with an Overweight rating and a 12- month price target of $10. ECARX is pioneering the customer experience in passenger electric vehicles through its full-stack hardware/software computing platform. We believe the transition toward electric vehicles has re-shaped consumer expectations, with innovative electric vehicle startups delivering new in-cabin experiences (e.g., heads-up display, augmented reality navigation, in-car gaming), well beyond those provided by the longest-standing automotive companies. The technology gap has, in our opinion, created an immediate opportunity for ECARX to win in new automotive vehicle platforms as OEMs aim to close the technology gap. The opportunity today: ~$370 per vehicle equipping infotainment/digital cockpit solutions. Over the medium term (3 to 5 years), ECARX plans to release new hardware/software solutions and a central computing platform"

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

Shares of Ecarx Holdings Inc. closed at $6.47 yesterday.

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