Northland analyst Donovan Schafer upgraded Xos to Outperform from Market Perform with a 75c price target after the company delivered “a solid Q3 beat” and reiterated full-year guidance, which implies a better-than-expected Q4. The operations and debottlenecking end market demand “seem to be at a turning point” and Xos “deserves a lot of credit for staying the course on its stepvan focus and continuous improvement,” the analyst tells investors.
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