Xos price target lowered to $4 from $6 at Roth Capital

Roth Capital lowered the firm’s price target on Xos (XOS) to $4 from $6 and keeps a Buy rating on the shares following the Q4 report. The company is is well positioned to execute past weakness in electric vehicle truck demand, the analyst tells investors in a research note. The firm says Xos’ $2.4M in Q4 free cash flow marked the third sequential quarter of positive cash flows. It cites a lower revenue forecast for the target cut.