Alliance Global Partners has commenced coverage of Ree Automotive (REE, Financial), assigning a Buy rating and setting a price target of $8.50. The firm's analyst highlights Ree's innovative REEcorner technology as a game-changer, describing it as both "elegant and disruptive." This technology positions Ree to offer unique turnkey electric vehicle solutions to other original equipment manufacturers (OEMs).
Several significant developments are anticipated for Ree Automotive in the near future. The company plans to launch production in the first half of 2025, with a scale-up expected in the latter part of the current year. Additionally, there is an important Memorandum of Understanding (MOU) expected to be finalized by the end of the year, which could further influence the company's growth trajectory.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 4 analysts, the average target price for REE Automotive Ltd (REE, Financial) is $14.75 with a high estimate of $18.00 and a low estimate of $12.00. The average target implies an upside of 433.45% from the current price of $2.77. More detailed estimate data can be found on the REE Automotive Ltd (REE) Forecast page.
Based on the consensus recommendation from 3 brokerage firms, REE Automotive Ltd's (REE, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
