R.F. Lafferty Sees No Major Road Block for Workhorse Group (WKHS)

R.F. Lafferty analyst Jamie Perez reiterated a Buy rating and $29.00 price target on Workhorse Group (NASDAQ: WKHS) after reports the USPS will delay awarding contracts to replace its aging fleet of 165,000 trucks to the first quarter of 2021. He sees no major roadblock for WHKS.

Perez said among the analyst community, the USPS contract was not anticipated to be awarded this year.

"We remain bullish on Workhorse Group Inc. (NASDAQ: WKHS) and suggest buying on a pullback. Currently, we have a Buy rating on WKHS with a $29 per share price target. Our price target is based on our 2022 estimated revenues of $284 million and EV/Sale target multiple of 12.0x."

For an analyst ratings summary and ratings history on Workhorse Group click here. For more ratings news on Workhorse Group click here.

Shares of Workhorse Group closed at $25.23 yesterday.

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