Lordstown Initiated Buy at R.F. Lafferty on Electric-Truck Potential [TheStreet.com]
Lordstown Motors Corp. - Class A (RIDE)
Company Research
Source: TheStreet.com
Lordstown Motors(RIDEGet ReportHe’s impressed with Lordstown’s full-size pickup truck, the Endurance, as the commercial transportation market is growing fast, Seeking Alpha reports.In addition, charging times and driving ranges are getting better for the company, Perez said."With the increase in EV offerings over the next two years, we expect commercial fleet operators and owners to adopt electric pickup trucks due to the lower cost of ownership and lower carbon emissions than fossil-fueled vehicles," he wrote in a commentary cited by Seeking Alpha.Perez also is impressed with the 80,000 non-binding reservations for the Endurance that Lordstown unveiled Tuesday. That should generate a steady revenue stream through 2022, he said.He sees revenue of $1.57 billion in 2023 and a price-to-sales multiple of 4.Lordstown recently traded at $20.16, up 4.2%. It has doubled year to date amid market enthusiasm for electric-vehicle stocks.Earlier this month, Goldman Sachs analyst Mark Delaney initi
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