Lion Electric price target lowered to $3.50 from $4 at DA Davidson

DA Davidson analyst Michael Shlisky lowered the firm’s price target on Lion Electric to $3.50 from $4 and keeps a Buy rating on the shares after its Q4 results. Excluding some one-time inventory charges, gross profit was positive once again, though deliveries surprised to the downside and management, while it avoided giving guidance as usual, sounded unusually cautious on the near-term, the analyst tells investors in a research note.