Roth/MKM Starts Hyzon Motors Inc (HYZN) at Buy, 'FC Trucks Are Rolling; New Stack Lifts Prospects'

Roth/MKM analyst Craig Irwin initiates coverage on Hyzon Motors Inc (NASDAQ: HYZN) with a Buy rating and a price target of $1.60.

The analyst comments "Initiating coverage of Hyzon at Buy with a $1.60 target. The company is a leading producer of heavy-duty fuel cell trucks, integrating a proprietary stack. We expect the production of a new 200 kW FC stack to deliver a tailwind in 2H24 driving adoption. New mgmt has finalized the SEC settlement and restated financials to put prior issues behind Hyzon and lift a material overhang. Trading catalysts ahead include technology milestones, customer confirmations, an increased delivery tempo, and release of subsidy funding."

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

Shares of Hyzon Motors Inc closed at $0.60 yesterday.

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