The Globe and Mail reports in its Thursday, May 25, edition that ATB Capital Markets analyst Chris Murray has resumed coverage on Exro Technologies following the close of its $35-million share offering in conjunction with its new multi-year commercial agreement with Linamar. The Globe's David Leeder writes in the Eye On Equities column that Mr. Murray modestly cut his Exro Technologies share target by 25 cents to $3.25. Analysts on average target the shares at $3.28. Mr. Murray says in a note: "We see the commercial partnership with Linamar, a global Tier 1 automotive supplier, representing a significant step for the company, as it provides visibility into volume growth over a multi-year period and offers further evidence that Exro's Coil Driver technology is de-risking. The timing of the equity issuance comes as expected and, when combined with the expanding relationship with Linamar, reinforces our view that the company is positioned to turn EBITDA positive in 2024." The Globe reported on Jan. 31 that Mr. Murray had resumed coverage on Exro Technologies following a $15-million convertible debenture issue with a "speculative buy" recommendation. Exro shares were then worth $2.75.