Analyst initiates Buy rating for REE Automotive with $14 price target. Expects growth catalyst in FY24, revenue ramp in FY25, positive margins in FY26.
REE Automotive Q4 FY23 sales surge 116% Q/Q but miss analyst expectations. Revenue at $455,000 falls short of $1.35 million estimate. Non-GAAP EPS loss at $(3.15) misses consensus $(2.38).
REE Automotive Ltd. NASDAQ: REE) shares are trading higher on Thursday after the company announced that it began deliveries of its P7-C electric chassis cab after it received a Federal Motor Vehicle Safety Standards