Cantor Fitzgerald analyst Andres Sheppard lowered the firm’s price target on Sono Motors to $3 from $6 and keeps an Overweight rating on the shares. While the company now has over 21,000 active car reservations, up from 20,000 in Q2, for the company’s Sion solar electric vehicle, start of productions has shifted to 1Q24 from 2H23 as a result of the company’s updated capital needs, Sheppard tells investors in a research note.
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