Lion Electric price target lowered to $4 from $5 at DA Davidson

DA Davidson lowered the firm’s price target on Lion Electric to $4 from $5 but keeps a Buy rating on the shares. The company has become one of the few EV Truck startups to establish itself as a supplier to fleets beyond the testing stage, and while its management is still unable to provide much guidance, it has noted the likelihood of gradual sequential production increases throughout 2023, the analyst tells investors in a research note.