DA Davidson Upgrades XOS Inc. (XOS) to Buy, 'one of the better EV plays at the moment'

DA Davidson analyst Michael Shlisky upgraded XOS Inc. (NASDAQ: XOS) from Neutral to Buy with a price target of $17.00.

The analyst comments "We are upgrading XOS to BUY (from NEUTRAL) and maintaining our $17 price target following 4Q:23 results. We have long viewed XOS as one of the better candidates for success in EV Trucks, once the funding situation clears up. With the closure of the SOLO acquisition last week, it appears XOS will indeed be able to remove the "going concern" provision from its filings. Furthermore, we view the development that XOS will be providing powertrains to a leading EV bus provider as very favorable and a validation of its technology. With customers returning to add more and more trucks, we view XOS as one of the better EV plays at the moment."

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

Shares of XOS Inc. closed at $10.24 yesterday.

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