Alliance Global Partners analyst C. K. Poe Fratt is adjusting the firm’s price target to $20 per share for Canoo to reflect the reverse stock split of 1 for 23 shares that is effective today and a higher expected share count. There is no change to 2023 EBITDA loss estimates and operating losses are set to continue in 2024 and the production ramp “should be measured due to margin profile,” the analyst tells investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on GOEV:
- Canoo to Participate at Upcoming Investor Conferences
- Canoo Inc. Announces 1-for-23 Reverse Stock Split Effective March 8, 2024
- Canoo announces 1-for-23 reverse stock split
- Canoo successfully completes first hiring milestone in Oklahoma
- Canoo Successfully Completes First Hiring Milestone and Receives Non-Dilutive Incentives from Oklahoma