Xos price target lowered to $6 from $8 at Wedbush

Wedbush lowered the firm’s price target on Xos (XOS) to $6 from $8 and keeps an Outperform rating on the shares. The firm notes the company reported its Q1 results featuring misses on the top and bottom-lines, while reaffirming its FY25 guidance as the company continues with its strict capital management plans across the business due to the ongoing EV macro storm and the growing impact of tariffs on the business model.