Ree Automotive downgraded to Neutral from Buy at Roth Capital

Roth Capital analyst Craig Irwin downgraded Ree Automotive (REE) to Neutral from Buy with a price target of $1, down from $14. The company is pausing production plans for the P7, blaming the current tariff situation, which “quite surprising given major positive developments by the Trump administration this last week,” the analyst tells investors in a research note. The firm expects downside support for the shares to come from Ree’s $53M net cash position. Roth says it will monitor progress with the company’s new software-focused business model.