GreenPower Motor price target lowered to $1.65 from $3 at Roth MKM

Roth MKM lowered the firm’s price target on GreenPower Motor to $1.65 from $3 and keeps a Buy rating on the shares. The company’s Q1 revenue was below forecasts, though its orders in hand for near-term delivery should support building momentum, the analyst tells investors in a research note. The management continues to control expenses well and liquidation of finished goods inventory sheet likely drives positive near-term cash flows, though Roth MKM is lowering GreenPower Motor estimates to reflect a more tepid outlook, the firm added.