Sono Motors initiated with an Overweight at Cantor Fitzgerald

Cantor Fitzgerald analyst Andres Sheppard initiated coverage of Sono Motors with an Overweight rating and $7 price target. Sono is developing a solar-powered, electric car for the mass market and he believes it can offer a more affordable electric vehicle that is less dependent on charging, Sheppard tells investors. He also thinks Sono’s multiple revenue streams help to de-risk the business and sees the company benefiting from supportive legislation that should drive demand for EVs.

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