GreenPower Motor price target lowered to $3 from $7 at Roth MKM

Roth MKM lowered the firm’s price target on GreenPower Motor to $3 from $7 but keeps a Buy rating on the shares. The company is seeing improved growth visibility on rising orders and deliveries of EV School Buses, combined with a major financing completed by the large customer that paused deliveries in Q2, the analyst tells investors in a research note. The firm estimates a 1.25-times Price to Sales multiple for the stock as being “fair for the volatile revenue trajectory” though the company’s overall visibility is now improving, Roth MKM added.