Why Lordstown Motors Stock Rose 14% Today
Shares of electric-truck maker Lordstown Motors (NASDAQ: RIDE) had jumped 14% as of 12:45 p.m. EST today, on the heels of a second analyst upgrade in two weeks, and a filing showing an increase in orders.
Yesterday, R.F. Lafferty analyst Jaime Perez started coverage of the electric-vehicle (EV) maker with a buy rating and $35 price target. That represents a 71% increase over Tuesday's closing price of $20.52. It also follows a buy rating from Goldman Sachs two weeks ago that put a $31 target on the shares.
Lordstown Motors' Endurance electric truck. Image source: Lordstown Motors.
Source Fool.com
