UPDATE: JPMorgan Starts Hyliion Holdings (HYLN) at Neutral
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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."
Shares of Hyliion Holdings closed at $21.09 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Related EntitiesJPMorgan, Earnings
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