BofA Securities Starts Fisker (FSR) at Buy, Sees 137% Upside

April 20, 2021 6:23 AM EDT
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Price: $11.28 -0.18%

Rating Summary:
    6 Buy, 3 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 38 | Down: 18 | New: 7
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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."

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

Shares of Fisker closed at $12.70 yesterday.

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