Friday, March 05, 2021 8:49:28 PM
Although the product sounds very unique, XL Fleet does have competition in this sector, most notably from Hyliion (NYSE:HYLN). However, XL Fleet does appear to have an important first move advantage as its design is already being used in select Ford (NYSE:F), General Motors (NYSE:GM) and Isuzu (OTCMKTS:ISUZY) fleet trucks.
XL stock has been falling from its December 2020 highs. But that’s not surprising for a company coming off its IPO, particularly since it just completed the merger on December 22. However, the stock has recently pushed past the $20 mark and may be moving higher after it received a bullish price upgrade to $30 from Gregory Lewis of the analyst firm BTIG.
About XL Fleet
XL Fleet Corp. develops and deploys hybrid electric solutions for the commercial and municipal vehicle market in North America. Its products include hybrid electric drive systems (powertrains), and data-analytic systems that measure key automotive performance indicators, such as miles per gallon performance and carbon dioxide emissions in hybrid-electric fleet vehicles for new and in-use vehicles. READ MORE
Current Price: $11.17
Consensus Rating: Buy
Ratings Breakdown: 2 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
Consensus Price Target: $30.00 (168.6% Upside)
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