Maxim Group analyst Tate Sullivan has reiterated their bullish stance on WKSP stock, giving a Buy rating yesterday.
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Tate Sullivan’s rating is based on the promising growth trajectory and financial improvements of Worksport. The company has shown a significant year-over-year revenue increase of 61% in the third quarter of 2025, despite slightly missing revenue expectations. Notably, the gross profit margin has improved considerably, surpassing previous forecasts, which indicates a strong operational performance.
Furthermore, Worksport’s management has provided optimistic guidance for 2025, projecting a revenue increase of 135% to 195% compared to the previous year, and aiming for a gross profit margin exceeding 30%. The company’s strategic initiatives, including the launch of new clean energy products, are expected to contribute to future revenue growth. Additionally, Worksport’s recent capital raise of $10 million strengthens its financial position, supporting its operational and strategic goals. These factors collectively justify the Buy rating and a price target of $7, reflecting confidence in the company’s continued growth and profitability.
In another report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $11.50 price target.
WKSP’s price has also changed moderately for the past six months – from $2.660 to $3.120, which is a 17.29% increase.