Proterra price target lowered to $1.80 from $6.50 at Citi

Citi analyst Itay Michaeli lowered the firm’s price target on Proterra to $1.80 from $6.50 and keeps a Neutral rating on the shares. The company’s Q4 results and 2023 guidance were "softer than expected across-the-board," the analyst tells investors in a research note. The firm reduced the price target to reflect reduced visibility and cash burn considerations.