Hyliion (NYSE:HYLN) stock is on the rise Wednesday following news of Barclays initiating coverage of the company.
Barclays starts its coverage of HYLN stock off strong with an outperform rating. That’s got it taking a more bullish stance than other analysts. The current consensus rating for Hyliion is hold with two hold ratings and one buy rating.
The Barclays coverage also has the firm setting HYRL stock up with a price target of $20 per share. That’s actually below the consensus price target for $23 per share for the stock. However, it still implies a roughly 27% upside for the stock compared to its closing price on Tuesday, reports SeekingAlpha.
The new rating for HYLN stock comes as more investors take an interest in electric vehicle (EV) companies. That interest was started by Joe Biden’s strong performance in the presidential election. Biden’s platform is green-energy friendly, which is behind the increasing interest in EV stocks.
More Recent HYLN Stock News for Investors to Consider
- This Dip Gives You the Perfect Opportunity to Buy Hyliion Stock
- Here’s How to Play Hyliion Stock Right Now
- Investors Should Pass on Hyliion Holdings
- 3 EV Stocks to Buy Today
- Hyliion Stock’s Warrant Redemption Isn’t a Bad Thing
- As Its Shares Stabilize, Hold off on Buying Hyliion Stock Right Now
- Don’t Expect Hyliion To Be A Huge EV Success Right Away
HYLN stock was up 4.4% as of Wednesday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.