Arcimoto upgraded to Neutral from Sell at Dawson James

Dawson James analyst James McIlree upgraded Arcimoto to Neutral from Sell. While there are "still significant financial and operational challenges the company must address," the shares reached the firm’s split-adjusted price target of $9 and the company indicated it intended to use its recent financing to retire its convertible note that "carried a burdensome interest rate," the firm tells investors. The firm adds that it believes the financing signals that the company will refrain from using its equity line of credit, a variable-priced instrument that it believes "exerted constant pressure on the shares."