Stifel Starts ElectraMeccanica (SOLO) at Buy

December 16, 2020 4:11 PM EST
Get Alerts SOLO Hot Sheet
Price: $1.97 -1.99%

Rating Summary:
    5 Buy, 1 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 25 | Down: 19 | New: 35
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Stifel analyst J. Brice Chan initiates coverage on ElectraMeccanica (NASDAQ: SOLO) with a Buy rating and a price target of $9.00.

The analyst comments "The age of electrification has dawned, and we believe the opportunity in the passenger and commercial electric vehicle (EV) markets is significant. We anticipate compound annual sales growth to exceed 25% in each over 10 years, especially given shifting consumer sentiment, tightening global emissions regulations, continued innovation in battery technology, and continued investment in electrification infrastructure. As the market develops, legacy manufacturers and new entrants have been flooding in, so competitive risks are high, in our view. But ElectraMeccanica has staked an early claim in the affordable commuter niche and the on-demand delivery niche, which, combined with its de-risked manufacturing strategy, present a compelling case for market success, in our view."

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

Shares of ElectraMeccanica closed at $6.81 yesterday.

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