Roth/MKM analyst Craig Irwin lowered on Wednesday the price target on Canoo shares from $4.00 to $3.00 while maintaining a Neutral rating. The price target adjustment follows the earnings results reported by the EV start-up on Tuesday afternoon.
The EV startup Canoo published on Tuesday its first-quarter earnings reporting an adjusted Net Loss Per Share of $1.13, a 34.6 percent improvement from $1.73 per share in the last quarter of 2023. In a statement, the CEO Tony Aquila said the company "prepares for step-level manufacturing".
The upcoming week can see tariffs on clean-energy goods from China increasing as much as 400 percent. When it comes to the tariffs on electric vehicles manufactured in China, US officials expect to raise the tariff rate from 25 percent to nearly 100 percent, sources told WSJ.
The Biden administration is poised to unveil fresh tariffs on China next week, with a focus on key sectors such as electric vehicles, batteries, and solar cells, diverging from Trump's broad tariff approach.
Donald Trump, the Republican presidential candidate running against Biden in the upcoming presidential election on November 5th, pledged to overturn many of the Biden administration's environmental regulations.
Stifel reaffirmed its Buy rating on Canoo shares on Thursday, while setting a $4.5 price target. The updated price target represents an upside potential of 50 percent based on Thursday's closing price of $3 per share.
enchmark analyst Michael Legg initiated coverage on Wednesday of Canoo shares with a Buy rating and $5 price target. On Tuesday morning, shares of electric vehicle (EV) manufacturer Canoo soared 18 percent to reach $2.93 per share, pushing its market capitalization to nearly $190 million. Based on the last closing price, the price target implies an upside potential of 70.65 percent.
On Tuesday morning, shares of electric vehicle (EV) manufacturer Canoo soared by more than 25 percent to reach $3.13 per share, pushing its market capitalization beyond $200 million.
On Monday, shares of lifestyle and lifestyle delivery vehicle manufacturer Canoo witnessed a surge of 13.15 percent, closing at $2.41 per share and pushing its market cap to $155.2 million. Earlier today, the company announced the second Saudi partnership in a week.
The U.S. electric vehicle startup Canoo signed on Monday a partnership with Red Sea Global (RSG) to pilot its electric vehicles at the renowned regenerative tourism destinations, The Red Sea and AMAALA.
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