Cowen Starts Nikola Corp. (NKLA) at Outperform; 'More than a Truck Company'

Cowen analyst Jeffrey Osborne initiates coverage on Nikola Corp. (NASDAQ: NKLA) with a Outperform rating and a price target of $79.00.

The analyst comments "We see Nikola as an intriguing investment opportunity, leveraging one truck platform, 2 power train options and 3 business segments, with optionality in powersports, pickups and AVs. We believe the partner ecosystem derisks the ramp in production in '21. We highlight that ~50% of the revenue stream is fuel related."

The analyst sees June 29th Badger (pickup truck) details and reservation opening as a catalyst as well as the naming of a manufacturing partner.

For an analyst ratings summary and ratings history on Nikola Corp. click here. For more ratings news on Nikola Corp. click here.

Shares of Nikola Corp. closed at $65.00 yesterday.

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