Exro Technologies initiated with a Buy at Alliance Global Partners

Alliance Global Partners initiated coverage of Exro Technologies with a Buy rating and C$1.50 price target, implying 111% upside from yesterday’s closing price. Exro is an e-mobility technology company that has developed valuable technologies applicable to vehicle electrification, the analyst tells investors in a research note. The firm believes the stock can re-rate higher as the company executes on its growth path and moves towards profitability, which it expects to occur on an adjusted EBITDA basis in the middle of 2025.