Hyzon Motors initiated with a Buy at Roth MKM

Roth MKM initiated coverage of Hyzon Motors with a Buy rating and $1.60 price target. The company is a leading producer of heavy-duty fuel cell trucks, integrating a proprietary stack, the analyst tells investors in a research note. The firm expects the production of a new 200 kW FC stack to deliver a tailwind in the second half of 2024 for Hyzon, driving adoption. Roth adds that the new management team has finalized the SEC settlement and restated financials to put prior issues behind Hyzon and lift a material overhang.