Canoo price target lowered to $3 from $10 at H.C. Wainwright

H.C. Wainwright analyst Amit Dayal lowered the firm’s price target on Canoo to $3 from $10 and keeps a Buy rating on the shares post the Q3 report. The analyst cites adjustments to the firm’s expectations for the number of vehicles the company could deliver in the near-term for the target drop. It lowered its vehicle delivery estimate for 2024 to 3,000 vehicles from 25,000 previously.