Exro Technologies downgraded to Hold from Speculative Buy at Canaccord

Canaccord analyst Yuri Lynk downgraded Exro Technologies to Hold from Speculative Buy with a price target of C$0.40, down from C$1.20. The firm says its prior thesis of a continued revenue and EBITDA ramp on the back of the 8,500 propulsion systems ordered by Mack and Hino with positive EBITDA in 2025 looks “extremely unlikely” post the Q2 report. The analyst adds that Exro’s balance sheet is “stretched.”