HC Wainwright & Co. Maintains Buy on Canoo, Lowers Price Target to $3
Portfolio Pulse from Benzinga Newsdesk
HC Wainwright & Co. analyst Amit Dayal has maintained a Buy rating on Canoo (NASDAQ:GOEV) but has reduced the price target from $10 to $3. This adjustment reflects a more conservative valuation of the company's prospects.
November 15, 2023 | 12:42 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Canoo's Buy rating is maintained by HC Wainwright & Co., but the price target is significantly lowered from $10 to $3, indicating a more cautious outlook on the company's future performance.
The reduction in price target from $10 to $3 is a substantial change that suggests the analyst sees potential challenges ahead for Canoo that could affect its stock price negatively in the short term. Investors may react to this new price target by adjusting their expectations and potentially selling shares, which could lead to a decrease in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100