Alliance Global Partners analyst Jeffrey Campbell raised the firm’s price target on Arcimoto to $11 from $7 and keeps a Buy rating on the shares after Arcimoto announced the issuance of up to $20MM principal in senior secured convertible notes and subsequently announced a strategic restructuring to focus on Deliverator commercial sales, Fun Utility Vehicle rentals in key markets, and FUV consumer sales. Putting these two together "illuminates the obvious" that Arcimoto can no longer afford the "many shots on goal" approach of the past, said Campbell.
Published first on TheFly
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