Cowen lowered the firm’s price target on AppHarvest to $2 from $9 and keeps an Outperform rating on the shares. The analyst said as the company evolves from development to production and following three restructurings over the past year we believe it is better positioned to operate. We are encouraged all four farms are now shipping product and think our model reflects an appropriate level of conservatism with respect to scale.
Published first on TheFly
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