- The shares of Workhorse Group Inc (NASDAQ: WKHS) have received a price target of $13 by Cowen. These are the details.
The shares of Workhorse Group Inc (NASDAQ: WKHS) have received a price target of $13 by Cowen. And Cowen analyst Jeffrey Osborne had downgraded Workhorse shares to a “Market Perform” rating from the previous “Outperform” rating.
Osborne noted that the company shares are fairly valued following the recent rally — which is not supported by fundamentals or specific catalysts. And Osborne told investors that he sees the second quarter and the third quarter as being a critical period of time for Workhorse as deliveries of the C1000 ramp up while competitive dynamics intensify.
However, Osborne does not see major near-term catalysts to buoy the shares further. He believes that Workhorse has a solid opportunity for gaining momentum through the remainder of 2021 and into 2022 with its partner network. But Osborne noted that the shares are fairly valued following the recent rally of select stocks that are heavily shorted by institutional investors as part of a meme stock rally.
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