Lordstown Motors price target lowered to $1 from $2 at Deutsche Bank

Deutsche Bank analyst Emmanuel Rosner lowered the firm’s price target on Lordstown Motors to $1 from $2 and keeps a Buy rating on the shares. The analyst remains concerned about Lordstown’s near-term outlook, citing "numerous roadblocks on the horizon as the company looks to ramp volumes." The company has paused production and delivery of its debut Endurance trucks and issued a voluntary recall after delivering just six units in total, the analyst tells investors in a research note. The firm is concerned about Lordstown’s ability to secure partners and raise sufficient funding to support its expansion plans over the mid-term.