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.