Opco starts 'clear leader' Lightning eMotors with Outperform, $15 target

Oppenheimer analyst Colin Rusch initiated coverage of Lightning eMotors with an Outperform rating and $15 price target. The analyst views Lightning eMotors as a "clear leader" in the electrification of Class 3-7 vehicles with a "bluechip" customer base. With a diverse supply chain, "demonstrated capability" in delivering numerous vehicles types and optionality on either growing through powertrain development, full vehicle sales, or being a leading integrator of fuel cell-based power systems, Lightning shares "offer investors meaningful upside potential," Rusch tells investors in a research note.