Roth Capital analyst Craig Irwin lowered the firm’s price target on Workhorse Group (WKHS) to $15 from $19 and keeps a Neutral rating on the shares. Workhorse did not receive the United States Postal Service Next Generation Delivery Vehicle award, with the Post Office announcing yesterday it selected Oshkosh (OSK) as the supplier, Irwin tells investors in a research note. This seems “highly unusual” as Oshkosh did not include an electric vehicle in its original bid, only showing the mock-up of a delivery vehicle with Ford (F) after quality checks indicated the Workhorse electric vehicle had been selected, says the analyst. Irwin expects Workhorse management to contest the award, but says the process will likely take several months. The stock closed Tuesday down 47% to $16.47 and is down another 8% to $15.15 in premarket trading.