Lion Electric (NYSE:LEV) Lowered to Neutral at CIBC

Lion Electric (NYSE:LEV – Get Rating) was downgraded by stock analysts at CIBC from a “sector outperform” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, The Fly reports. They presently have a $9.00 price target on the stock. CIBC’s price target points to a potential upside of 59.86% from the stock’s current price.

A number of other equities research analysts also recently commented on LEV. Canaccord Genuity Group reduced their target price on Lion Electric from $12.00 to $8.00 in a report on Thursday, May 5th. Barclays reduced their target price on Lion Electric from $17.00 to $10.00 and set an “overweight” rating for the company in a report on Thursday, May 19th. National Bank Financial reduced their target price on Lion Electric from $14.00 to $13.00 and set an “outperform” rating for the company in a report on Wednesday, February 2nd. Raymond James reduced their target price on Lion Electric from $11.00 to $7.50 and set a “market perform” rating for the company in a report on Thursday, May 5th. Finally, Zacks Investment Research upgraded Lion Electric from a “strong sell” rating to a “hold” rating and set a $7.00 price target for the company in a research report on Tuesday, May 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Lion Electric presently has a consensus rating of “Hold” and an average price target of $10.30.

Lion Electric stock opened at $5.63 on Thursday. Lion Electric has a one year low of $4.73 and a one year high of $23.45. The business has a fifty day moving average of $6.57 and a two-hundred day moving average of $8.25.

A number of institutional investors have recently bought and sold shares of LEV. 1832 Asset Management L.P. purchased a new stake in Lion Electric during the 4th quarter worth about $26,000. Shell Asset Management Co. purchased a new stake in Lion Electric during the 4th quarter worth about $48,000. Toronto Dominion Bank increased its position in Lion Electric by 9,901.8% during the 4th quarter. Toronto Dominion Bank now owns 5,701 shares of the company’s stock worth $56,000 after purchasing an additional 5,644 shares in the last quarter. XTX Topco Ltd purchased a new stake in Lion Electric during the 1st quarter worth about $96,000. Finally, Wells Fargo & Company MN purchased a new stake in Lion Electric during the 2nd quarter worth about $110,000.

About Lion Electric (Get Rating)

The Lion Electric Company designs, develops, manufactures, and distributes purpose-built all-electric medium and heavy-duty urban vehicles in North America. Its products include battery systems, chassis, bus bodies, and truck cabins. The company also distributes truck and bus parts, as well as accessories.

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