Workhorse Group price target lowered to 50c from $1 at DA Davidson

DA Davidson analyst Michael Shlisky lowered the firm’s price target on Workhorse Group to 50c from $1 and keeps a Neutral rating on the shares. The company is making small steps toward high-volume production, including its first two orders for the W56 Step Van, and has also entered into a convertible note that could provide adequate liquidity, though at this point, the management is “playing it close to the vest” with respect to volumes and guidance, the analyst tells investors in a research note.