BTIG analyst Gregory Lewis lowered the firm’s price target on Proterra to $6 from $7 after its Q4 earnings miss but keeps a Buy rating on the shares. The analyst notes that the company’s gross margins were down about 24% sequentially as start-up costs related to Powered 1 and supply chain part availability remain a headwind, though the firm remains positive on the stock based on expectation of increasing revenues and improving margins as battery production scales up into next year.
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