As previously reported, DA Davidson upgraded Xos to Buy from Neutral with an unchanged $17 price target following the company’s Q4 results. With the closure of the ElectraMeccanica acquisition last week, it appears thta Xos will indeed be able to remove the “going concern” provision from its filings, the analyst tells investors in a research note. The development that Xos will be providing powertrains to a leading EV bus provider is also “very favorable and a validation of its technology”, the firm added.
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- M&A News: Xos (NASDAQ:XOS) Slips Following Large-Scale Expansion Effort
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- Xos, Inc. Accelerates Growth with Strategic Acquisition of ElectraMeccanica
- Xos closes acquisition of ElectraMeccanica
