Goldman Sachs Initiates Rating On This Electric Mobility Company

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.