Waghorn has been ruled out for six to eight weeks due to a knee injury (click here to read more).
The 26-year-old forward has been arguably Rangers’ best player so far this season. The former Sunderland and Leicester City man has scored 28 goals in all competitions for the Gers so far this campaign.
Stubbs believes that the injury to the Englishman is a blow for the Gers, but he expects Mark Warburton’s side to cope with it.
“First of all, it’s a blow for them,” the Hibernian boss told The Scottish Sun. “He’s been so prolific this season and is obviously a very good player. I knew him from down south and he has hit the ground running at Rangers.
“They still have other options — Kenny Miller can play through the middle and they could easily push forward someone from the No 10 position if they needed to.”
Rangers are at the top of the Scottish Championship table at the moment with 60 points from 24 matches.
The Gers are eight points clear of Hibernian, who are currently second in the standings and have a game in hand.
Waghorn’s injury is a blow to Rangers, and Hibs will hope to take advantage of the situation.
Rangers are still the favourites for the Scottish Championship title this season, but Hibernian are certainly going to give them a run for their money.