Lion Electric initiated with an Outperform at Northland

Northland analyst Abhishek Sinha initiated coverage of Lion Electric with an Outperform rating and $5 price target. The analyst believes Lion offers a "compelling entry point" for investors looking for exposure to a small cap electric vehicle manufacturer with a focus on medium- and heavy-duty commercial vehicles. The company has an early-mover advantage with a proven technology and is well positioned to scale up, drive costs down, and capture market share in the growing electric vehicle market in North America, Sinha tells investors in a research note.