GreenPower Motor price target lowered to $1.50 from $2.50 at Roth MKM

Roth MKM lowered the firm’s price target on GreenPower Motor (GP) to $1.50 from $2.50 and keeps a Buy rating on the shares. The firm notes the company’s Q2 results topping “low expectations” while adding that the $3M equity raise after the end of the quarter provides some room for the management to reposition in a rapidly changing environment, the analyst tells investors in a research note. A small restructuring to reduce costs would be positive in the current environment of EPA EVSB subsidy funding uncertainty, Roth MKM adds.