VMAR - RothMKM starts bullish coverage Vision Marine

2023-06-09 07:55:03 ET

RothMKM initiated coverage of on Vision Marine Technologies Inc. ( NASDAQ: VMAR ) with a Buy rating on Friday.

“Vision is working to bring the benefits of drivetrain electrification to the performance and environmentally-minded boating world,” the team noted. “[Management] introduced the E-Motion outboard electric motor in Dec. '22, and we expect this product to materialize as the primary driver of future growth as commercial deliveries begin in late FY23 (Aug). Demonstrations have been impressive with Vision setting a 109 mph speed record for an electric boat in the summer of '22.”

The analysis added that “growth in the electric boat rentals business should pull forward the

timeline to profitability” for the company. As such, a $6 price target was assigned to the stock alongside the bullish initiation. The team forecasts the delivery of hundreds of E-Motion units by the close of 2025.

More on Vision Marine:

Warning: VMAR is at high risk of performing badly

Dig into the company’s financials.

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