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Workhorse Group price target lowered to $4 from $5 at B. Riley
The Fly

Workhorse Group price target lowered to $4 from $5 at B. Riley

B. Riley analyst Christopher Souther lowered the firm’s price target on Workhorse Group to $4 from $5 and keeps a Buy rating on the shares post the analyst day. The analyst continues to believe the company’s "process-driven approach will result in a new level of execution." Despite timelines for Workhorse’s initial product being extended with the C1000 being shelved, it still has a first-mover advantage since many peers going after the same end markets have stumbled as well, Souther tells investors in a research note.

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