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Citi initiates coverage of LiveWire with Neutral rating

Yahoo Finance Live’s Brian Sozzi discusses a Citi analyst's Neutral/High Risk rating on LiveWire.

Video transcript

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BRIAN SOZZI: Analyst coverage on Harley Davidson EV-spinoff LiveWire is trickling in, following the brand's IPO in late September. Citi analyst Itay Michaeli initiated coverage on LiveWire today with a neutral/high-risk rating on an $8.00-- with an $8.70 price target. Said Michaeli, "Despite a favorable long-term adoption outlook, there are some differences versus the EV passenger car market that could present challenges, such as regulations, subsidies, demographics, and licensing." Michaeli adds, his analysis of LiveWire's web traffic is not showing clear momentum for the brand just yet.