What is going on moon gang, i hope, you're having an amazing day. My name is matt and in this video i will be discussing not one but two big announcements related to the wildly popular eevee company workhorse and make sure you stick around until the end, because i will also be sharing why. I personally think we are coming up on an excellent buying opportunity if you enjoy this type of stock market related content and want to be a member of an awesome community, hit the subscribe button to join the moon game and don't forget to turn on your notifications. So you don't miss any of the new videos and if you want to support my efforts in making these videos, it would be greatly appreciated if you could hit the like button, because it really helps with the youtube algorithm.

But the absolute best thing you could do is share this video with a friend, okie dokie, then time to rock and roll your time is important. So let's hop right into it. An analyst at oppenheimer, colin, rosh roush. However, it's pronounced initiated coverage on workhorse with an outperform rating and a price target of 23.

collins current thesis is that the company's electric last mile delivery truck platform offers the benefit of vehicle design iterations, as well as a substantial competitive edge of supporting a flexible manufacturing Model he added that workhorses vehicles serve a market estimated at around 18 billion and has consumers who are unwilling to compromise on service. If workhorse manages to capture even a small percent of this massive market, their revenues will skyrocket, and i truly think that workhorse is well positioned and won't have much of an issue capturing a considerable slice of this market in the coming years. If you've been paying attention to workhorse for any amount of time, i'm sure you've heard of the usps contract colin from oppenheimer believes that the company is in a strong position to win the u.s postal service contract for upgrading the delivery fleet of 165 000 vehicles, valued At 6.3 billion now i don't think i really need to say this, but if workhorse wins the usps contract, their stock will go directly to the moon. Beyond that.

This analyst, and many investors, myself included, are intrigued by workhorses drone delivery technology. We are also very excited by workhorse's 10 equity stake in lordstown motors lordstown makes eevee trucks and they're part of a special acquisition deal. That's expected to be completed by the end of this year and when that happens, it will trade under the stock ticker ride. So our boy at oppenheimer colin, isn't the only wall street analyst who is bullish on workhorse, with one being very bearish and five being very bullish.

The average analyst rating is currently 4.4 out of five analyst ratings. Four are either very bullish or bullish, and their average price target is 24, which is good news, because at the time i'm making this video workhorse is trading below 18.. So that's the first big announcement. Analysts are becoming more bullish on workhorse, which is great for investors.

The second piece of news is that workhorse has entered into a strategic agreement with the japanese conglomerate hitachi. According to a press. Release from workhorse hitachi will provide an operational assessment of workhorses manufacturing operational and supply chain capabilities, benchmark to best-in-class standards and provide recommendations to workhorse that support the company's increased production requirements. Now i don't want to spread rumors, but in workhorses q2 earnings report.

They reaffirmed previous production and delivery target of three to four hundred vehicles in 2020. This is an interesting detail, because satoshi is a massive company. They don't really mess around with small businesses, so it seems as if both hitachi and workhorse are expecting something big. Anyway, i digress.

Hitachi will also assist in developing a national dealer network and will support workhorses sales with vehicle financing options for both dealers and customers, including dealer floor plan programs. In other words, hitachi is taking some of the workload off of workhorse, so they can focus on what they do best building electric delivery vans. I think the benefits of this partnership are summed up pretty well in this quote from the ceo. This alliance with hitachi comes at an ideal time for workhorse, as we value their best-in-class innovation and experience in ramping up production and enabling us in providing a complete solution to our customers.

We believe hitachi can help. The company drive customer orders as a well-known and respected player in the commercial leasing and finance industry, and we are looking forward to benefiting from their expertise. To sum this all up. In my personal opinion, it really looks as if workhorse is making all of the necessary business moves to seriously ramp up their production.

I truly don't think that this opinion is unfounded. The ceo of workhorse just posted on linkedin that they're hiring for all shifts in both ohio and indiana. He also wrote that workhorse is looking for a number of engineering, quality supervision, logistics and project management persons. I don't know about you, but this is screaming growth.

To me - and i think it puts them in serious contention for the usps contract to make things even better. I believe the stock is approaching an excellent buying opportunity, workhorse trades under the ticker symbol, wkhs and i bought 100 shares when it broke above this downward trend line. I thought this was a good buying opportunity because the potential reward was very high and the risk was close by at 16.28 cents. This support is now essentially overlapping, this trend line, so i think this region could easily become an area of high demand.

I'm looking to pick up more shares right here because i think there's a high probability of the stock bouncing, but if the stock doesn't bounce and the bears push it even lower, the next support would be found at 15.5 and then that would be followed by 14.5. Depending on how long it would take this to play out, any of these support levels could align with this blue trend line, which would represent an excellent buying opportunity. Overall, i think workhorse has a lot going for it fundamentally and i think its stock is coming up on a technical area of high demand. I'm not a financial advisor.

These are all just my opinions, but i would love to know your thoughts in a comment below. If you made it this far in the video, i truly appreciate your support. This channel just hit 2k subs, so it's pretty obvious that you guys are the absolute best. If you have any suggestions or recommendations, feel free to reach out to me.

If you enjoyed the video or found value in it, let me know by hitting the like button and if you want to join the moon gang subscribe to the channel and don't forget to turn on your notifications, thanks for watching and until next time. Best of luck in the markets, you.