tiprankstipranks
The Fly

Workhorse Group price target lowered to $1 from $1.25 at Roth MKM

Workhorse Group price target lowered to $1 from $1.25 at Roth MKM

Roth MKM lowered the firm’s price target on Workhorse Group (WKHS) to $1 from $1.25 and keeps a Neutral rating on the shares. The company’s Q3 results missed revenue forecasts while its shrinking market cap is crimping the management’s ability to raise capital and forcing the team to reduce costs, the analyst tells investors in a research note. The firm adds that it will look for Workhorse management to achieve reduced equity dilution and improve revenue growth before revisiting its rating.

Discover the Best Stocks and Maximize Your Portfolio:

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App
1