Hyliion Holdings downgraded to Underweight from Neutral at Cantor Fitzgerald

Cantor Fitzgerald downgraded Hyliion Holdings to Underweight from Neutral with a price target of $1, down from $2, after the company announced it will be exploring “a range of options” for its electric powertrain business. Hyliion is pausing securing new orders until the strategic review is over, with no current timeline for the review’s completion, the analyst tells investors in a research note. The firm cut revenue estimates to reflect lower unit sales as it become more conservative given the announcement.