UPDATE: JPMorgan Starts Hyliion Holdings (HYLN) at Neutral

October 28, 2020 4:49 AM EDT
Get Alerts HYLN Hot Sheet
Price: $8.68 -0.8%

Rating Summary:
    2 Buy, 2 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 17 | Down: 5 | New: 36
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(Updated - October 28, 2020 4:49 AM EDT)

(updating comment)

JPMorgan analyst Paul Coster initiates coverage on Hyliion Holdings (NYSE: HYLN) with a Neutral rating and a price target of $27.00.

The analyst comments "We rate HYLN Neutral based on valuation. The stock of this pre-revenue company trades at a high multiple of out-year sales, and earnings that don’t get expressed in the business model until 2023-2024. Discounting back future earnings, we believe the stock already prices in a successful execution of the firm’s medium-term strategy."

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

Shares of Hyliion Holdings closed at $21.09 yesterday.

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