SEV - Sono Group attracts new bull with B. Riley calling it an auto sector disruptor

B Riley Securities started off coverage on Sono Group N.V. (NASDAQ:SEV) with a Buy rating. The firm has the view that Sono Group (SEV) has the potential to disrupt the electric vehicle industry with adoption of its solar technology to extend vehicle range, lower the cost of EV ownership, and extend the battery life of vehicles. Analyst Christopher Souther and team see an attractive entry point on SEV given the potential for both segments. The firm's price target of $8 (110% implied upside) consists of a blended EV/sales multiple on off 2025 estimates. Catalysts for Sono (SEV) are down the road a bit with the company intending to integrate its technology in the Sion battery electric vehicle for prototype testing later this year and begin production in the second half of 2023. Shares of Sono Group (SEV) turned lower after a stock offering in April.

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Sono Group attracts new bull with B. Riley calling it an auto sector disruptor