Worksport, the Consumer Cyclical sector company, was revisited by a Wall Street analyst today. Analyst Scott Buck from H.C. Wainwright maintained a Buy rating on the stock and has a $11.50 price target.
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Scott Buck has given his Buy rating due to a combination of factors that highlight Worksport’s potential for growth and profitability. The company is experiencing high product demand and expanding distribution, which are driving significant revenue growth. Worksport’s gross margins have shown considerable improvement, increasing from 17.7% in the first quarter of 2025 to 31.0% in July, indicating strong operational performance.
Additionally, the introduction of new products, such as the HD3 tonneau cover and the SOLIS and COR launches, are expected to further bolster revenue. The company’s innovative cold-climate heat pump technology, which has garnered interest from large companies, presents a promising opportunity for future growth. Despite some near-term challenges like tariff headwinds, Worksport’s strategic execution and potential in the heat pump market support the Buy rating, with a price target of $11.50.
Buck covers the Technology sector, focusing on stocks such as Intellicheck Mobilisia, Inuvo, and Lightpath Technologies. According to TipRanks, Buck has an average return of -4.9% and a 32.73% success rate on recommended stocks.