BofA Securities Starts Fisker (FSR) at Buy, Sees 137% Upside
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(Updated - April 20, 2021 7:03 AM EDT)
BofA Securities analyst John Murphy initiates coverage on Fisker (NYSE: FSR) with a Buy rating and $31 price target, suggesting 137% upside.
The analyst commented, "Besides Chairman, Co-Founder & CEO Henrik Fisker’s experience, FSR’s key competitive advantages are interesting/attractive product (Ocean SUV) and its platform sharing and contract manufacturing agreements (Magna/Foxconn). While FSR’s timeline to commercialization is a bit longer-dated (2022+), we expect relatively encouraging proof points forthcoming around reservations/registrations and progress on start of production, which should be sufficient for the stock to work."
Shares of Fisker closed at $12.70 yesterday.
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