Proterra gains as Truist Securities starts coverage with 'buy' rating

Proterra

29/09/2022 15:37

** Shares of electric-bus maker Proterra Inc  PTRA.O  up
1.26% at $5.20
    ** Truist Securities starts coverage with "buy" rating and
PT of $9
    ** "Proterra is carving out a valuable niche providing
specialized battery and electrification technologies
purpose-built for a broad-range of commercial vehicle classes" -
brokerage
    ** "We believe the commercial EV market has reached an
inflection point further bolstered by recent supportive policies
that we see driving unprecedented demand for PTRA's tech in
years to come" - Truist
    ** Other EV stocks including Tesla Inc  TSLA.O , Rivian
Automotive Inc  RIVN.O , Fisker Inc  FSR.N  and Nikola Corp
 NKLA.O  down between 4.6% and 6.3%, amid broader market
declines  urn:newsml:reuters.com:*:nL4N3103AG
    ** As of last close, Proterra shares down ~42% YTD
 (Reporting by Akash Sriram in Bengaluru)
 ((Akash.Sriram@thomsonreuters.com; https://twitter.com/hoodieonveshti))