As previously reported, Craig-Hallum initiated coverage of Carbon Revolution with a Buy rating and $84 price target. The firm sees a medium-term path to $125-plus/share and longer-term path to $375-plus/share as it increases penetration with its current global OEM partners and expands to new OEMs as part of the shift to larger vehicles and EVs. Craig-Hallum also notes strong visibility into reaching near-term profitability from its sizable backlog.
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