Northland Capital Markets Assumes Lightening eMotors (ZEV) at Outperform
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Northland Capital Markets analyst Abhishek Sinha assumes coverage on Lightening eMotors (NYSE: ZEV) with a Outperform rating and a price target of $6.50.
The analyst comments "We are assuming coverage on Lightening eMotors with an OP rating and a $6.50 PT. We believe Lightening offers a compelling entry point for investors looking for exposure to a small cap electric vehicle manufacturer and/or electrification solutions provider. We feel that ZEV has been unjustifiably penalized in the recent SPAC carnage amid the overall equities rout. In our view, once the dust settles, ZEV should emerge much stronger underpinned by a wave of global electric vehicle transition."
Shares of Lightening eMotors closed at $3.44 yesterday.
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