DA Davidson analyst Michael Shlisky downgraded Lion Electric to Neutral from Buy with a price target of $1, down from $1.50, following the Q2 report. Lion is facing bureaucratic delays in its bus business and slower than expected adoption in trucks, the analyst tells investors in a research note. The firm says this has led to an even greater focus on liquidity preservation. It believes the “risks have become too great to continue to recommend” the shares.
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