Lion Electric initiated with a Buy at R.F. Lafferty

R.F. Lafferty analyst Jaime Perez initiated coverage of Lion Electric with a Buy rating and $7 price target. Lion is "a North American leader in zero-emission transportation" with over ten years of experience in electric vehicle research and development, said the firm. In the school bus segment, the company’s total addressable market is roughly $10B with an estimated unit delivery per year of 45,000 buses, while Lion estimates its total addressable market for medium and heavy-duty urban trucks is approximately 335,000 trucks, or $100B annually, the analyst tells investors.