Lightning eMotors price target lowered to $1.50 from $4.00 at DA Davidson

DA Davidson analyst Michael Shlisky lowered the firm’s price target on Lightning eMotors to $1.50 from $4.00 but keeps a Buy rating on the shares after its Q4 results. While the company’s "liquidity situation" sent the stock reeling, its management provided the firm with more detail that the story may not be as dire as it sounded, the analyst tells investors in a research note. DA Davidson adds that its new target assumes a significant capital raise, even though it believes that Lightning eMotors continues to do the right things by partnering with essential body makers and OEMs.