Workhorse Group's Stock Cut to Neutral; New Investors Might Not Understand the Risks, Analyst Says
A Wall Street analyst who had been bullish on Workhorse Group (NASDAQ: WKHS) gave the electric-van company's shares a downgrade on Thursday.
In a note on Thursday morning, Colliers analyst Michael Shlisky cut his rating on the electric delivery-van maker to neutral, from buy, and removed his earlier $11 price target.
Noting that Workhorse's share price has increased by over 500% in the last six weeks, Shlisky wrote that while he's "thrilled" that investors have recognized the potential of the company's battery-electric C-Series vans and other products, he's concerned that investors have yet to fully price in some of the uncertainties in Workhorse's story.
Source Fool.com
