The Globe and Mail reports in its Wednesday, May 21, edition that National Bank Financial analyst Rupert Merer, following "weak" first quarter results at Exro Technologies, cut his share target to 16 from 20 cents. The Globe's David Leeder writes in the Eye On Equities column that Mr. Merer continues to rate Exro "underperform." Mr. Merer says in a note: "We believe that Exro Technologies has a unique and valuable technology offering but needs to access additional capital to survive and breakeven. With no improvement to liquidity risk and challenged markets, including tariff risk and reduced support for EVs, we maintain our 'underperform' rating, and we have lowered our target." The Globe reported on Aug. 16 that Mr. Merer had lowered his recommendation for Exro Technologies to "sector perform" from "outperform." The shares could then be had for 29 cents. The Globe reported on Oct. 23 that Mr. Merer reaffirmed his "underperform" rating for Exro Technologies when it could be had for 17 cents. The Globe reported on Sept. 20 that Canaccord Genuity analyst Yuri Lynk had reaffirmed his "hold" recommendation for Exro Technologies. The shares could then be had for 26 cents.