Ree Automotive initiated with a Buy at H.C. Wainwright

H.C. Wainwright initiated coverage of Ree Automotive with a Buy rating and $15 price target. The automotive technology company engaged in the development and manufacturing of electric vehicle platforms for the commercial market segment has developed proprietary technologies that enable a wide variety of vehicle configurations across several vehicle segments and use cases, the analyst tells investors. The firm targets producing low-100s of vehicle units in 2024, in the low-1000s in 2025 and in the mid-1000s in 2026, notes the analyst, who believes the company’s delivery targets are achievable.