HC Wainwright & Co. Maintains Buy on Canoo, Adjusts Price Target To $7 (reverse stock split 1:23)
Portfolio Pulse from Benzinga Newsdesk
HC Wainwright & Co. analyst Amit Dayal maintains a Buy rating on Canoo (NASDAQ:GOEV) and adjusts the price target to $7 from $3, accounting for a reverse stock split of 1:23.

April 02, 2024 | 12:35 pm
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HC Wainwright & Co. maintains a Buy rating on Canoo, adjusting the price target to $7 from $3 due to a reverse stock split of 1:23.
The adjustment of the price target to $7 from $3 by HC Wainwright & Co. reflects a positive outlook on Canoo's future performance, especially considering the reverse stock split. This action typically aims to increase the stock's market price, making it more attractive to investors and potentially reducing volatility. The maintenance of a Buy rating alongside the price target adjustment suggests confidence in the company's long-term value proposition.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100