Workhorse inventory will get downgraded by Cowen, ‘no catalyst going ahead’
Analysts at Cowen on Friday downgraded shares of Workhorse Group Inc.
to their equal of impartial, saying that they view the shares as “pretty valued following the latest rally which we view as not supported by fundamentals or firm particular catalysts.” Second and third quarters will probably be a “vital interval” for the corporate as deliveries of its C1000 electrical van ramp up and competitors intensifies, they stated. “We make no modifications to our estimates or $13 worth goal and … see no main close to time period catalysts to buoy shares additional.” Workhorse inventory was a part of the rally for “meme shares,” the Cowen analysts stated. Shares of Workhorse have gained 34% this 12 months and 304% up to now 12 months, in contrast with advances of 12% and 36% for the S&P 500 index.
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