SEV - Sono Group a Buy with 'compelling' long-term upside potential - Berenberg

Sono Group N.V. (SEV -8.3%) shares drop despite receiving a Buy rating from Berenberg. Sono Group is a Munich-based automaker that plans to introduce its electric solar-powered car, the Sion, in 2023 at a price of €28,500 ($32,000), along with licensing its solar technology for other modes of transportation. "Sono's proprietary integrated solar solution is lighter, cheaper and more flexible than existing alternatives," writes analyst Michael Filatov. "We believe the most exciting aspect is Sono Solar, which will sell and license a solar solution to other OEMs and fleet owners across industries." Berenberg assigns a price target of $21 to the stock. SEV is trading down alongside several of its EV and other peers.

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Sono Group a Buy with 'compelling' long-term upside potential - Berenberg