Roth Capital Starts Ideanomics Inc. (IDEX) at Buy, 'Portfolio Effect Lifts Traction in Commercial EVs'
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Roth Capital analyst Craig Irwin initiates coverage on Ideanomics Inc. (NASDAQ: IDEX) with a Buy rating and a price target of $7.00.
The analyst comments "Initiating coverage on Ideanomics at Buy and a $7.00 PT. Ideanomics has united a strategic selection of 12 companies to target the emerging growth opportunities in commercial electric vehicles and fintech. We like the stock for the rapid success of IDEX's portfolio of commercial EV tech companies, as entrepreneur founders seem to benefit from collaborative resources and technology, also accelerating business development. Visible success at Tree Technologies and WAVE likely points to rising momentum across the group."
Shares of Ideanomics Inc. closed at $2.65 yesterday.
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