ATB Adjusts with Comments - G&MNo big deal , the analysts are paid to adjust the TP upwards once it is surpasses.
GLTA
In other analyst actions:
* Resuming coverage following the close of its $35-million share offering in conjunction with its new multi-year commercial agreement with Linamar Corp., ATB Capital Markets’ Chris Murray cut his Exro Technologies Inc. (EXRO-T -0.89%decrease
) target to $3.25 from $3.30 with a “speculative buy” rating. The average is $3.28.
“We see the commercial partnership with Linamar, a global Tier 1 automotive supplier, representing a significant step for the Company, as it provides visibility into volume growth over a multi-year period and offers further evidence that Exro’s Coil Driver technology is de-risking,” he said. “The timing of the equity issuance comes as expected and, when combined with the expanding relationship with Linamar, reinforces our view that the Company is positioned to turn EBITDA positive in 2024.”