02:35 PM EST, 11/08/2023 (MT Newswires) -- Lion Electric reported its Q3 2023 results. "It is encouraging that gross margin has so far been tracking better than expected and opex has been fairly stable despite top-line growth," notes BMO.
Although uptake for commercial electric trucks remains sluggish, the U.S. electric school bus market should continue to grow.
BMO remains Market Perform on Lion Electric with a US$2 target. "We believe there is still significant uncertainty associated with LEV's production ramp, there is risk of further subsidy delays, and we believe additional financing is required, which would weigh on the stock."
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