Proterra rises on Q3 revenue jump, supply deal with Lightning eMotors

Proterra

11/11/2021 12:55

** Shares of electric-bus maker Proterra Inc  PTRA.O  rise
7% to $11.36 premarket
    ** Proterra on Wednesday after market close said its Q3
revenue grew 30% to $62 mln, boosted by heightened battery
production and robust deliveries, despite supply chain
challenges (https://bit.ly/3omEEho)
    ** PTRA also said it would supply battery systems for up to
10,000 Lightning eMotors  ZEV.N  electric vehicles between 2022
and 2025, building on a previous partership with the company
 urn:newsml:reuters.com:*:nGNXc3nXJ3
    ** Co reiterated its 2021 revenue forecast of $246 million,
given uncertainties related to supply chain delays 
    ** Current average recommendation of 6 analysts on PTRA is
"buy"; median PT is $14.50
    ** Stock had fallen 4.3% YTD, up to the last close

 (Reporting by Amruta Khandekar)
 ((Amruta.Khandekar@thomsonreuters.com;))