Seeing “Strong validation from key customers, but slower growth in near term,” National Bank’s Rupert Merer trimmed his Exro Technologies Inc. (N/A
) target to 50 cents, below the 57-cent average, from 60 cents with a “sector perform” rating (unchanged).
“While EXRO is making the necessary moves, it remains risky with its current capital needs,” said Mr. Merer.