- Goldman Sachs analyst Jerry Revich initiated Xos Inc XOS with a Neutral rating and a price target of $4.25, implying an upside of 23.5%.
- The analyst is positive on Xos's low-cost product strategy, underpinned by its vertically integrated battery pack and proprietary battery management system.
- Revich added that competitive intensity is high while supply chain constraints are challenging for both incumbents and startups.
- Recently, Xos received a multi-million-dollar purchase order for 40 Xos last mile delivery vehicles from Route Consultant, a broker, and a consultant for FedEx Corp's FDX FedEx Ground contractors.
- Price Action: XOS shares are trading lower by 9.45% at $3.45 on the last check Friday.
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