Why XL Fleet Stock Charged Higher Today
Shares of XL Fleet (NYSE: XL) gained 9% today after BTIG initiated coverage of the stock with a buy rating alongside a price target of $30. The company closed its merger with special-purpose acquisition company (SPAC) Pivotal last month. Analyst Gregory Lewis believes that XL Fleet, which electrifies fleets of commercial vehicles, is positioned as a leader in the market and will benefit from rising demand from fleet owners looking to upgrade their vehicles.
