Fisker (FSR) Signs Deal with 'Lebron James' of Manufacturing, Offers 900% Upside to Bull Case

May 14, 2021 6:51 AM EDT
Get Alerts FSR Hot Sheet
Price: $18.11 -1.2%

Rating Summary:
    7 Buy, 3 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 15 | Down: 13 | New: 24
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Morgan Stanley analyst Adam Jonas reiterated an Overweight rating and $40.00 price target on Fisker (NYSE: FSR) after the company signed a framework agreement with Foxconn for "Project PEAR" EV development. The manufacturing
will commence first in the US starting in 4Q23 with a targeted annual volume >250,000 units across multiple sites globally.

Fisker remains the firm's top-rated EV startup in the US.

"We see FSR’s growth trajectory as tied to the largest manufacturer in the world (Foxconn) who has ambitions of being a major force in the largest IoT market in the world (autonomous cars)," Jonas comments. "In our opinion, Magna and Foxconn are the Michael Jordan and Lebron James of contract manufacturing. And both of these titans have something in common: they’re betting on a little company with roughly 1/100th the market cap of Tesla to make it happen."

The stock is trading at the firm's $10 bear case right now and offers 800% upside to the $90 bull case.

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 $9.95 yesterday.

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