Morgan Stanley Starts Fisker (FSR) at Overweight; 'Sleeper' EV Pick

(Updated - February 12, 2021 8:12 AM EST)

Morgan Stanley analyst Adam Jonas initiates coverage on Fisker (NYSE: FSR) with a Overweight rating and a price target of $27.00.

The analyst commented, "FSR is a play on an all new, asset-light, design-centered EV business model that improves time to market and break-even points. In a very crowded EV startup field, we think FSR stands out as one of the more de-risked and strategically underpinned business models. We think investors underestimate that FSR's path to
commercialization is significantly aided by Magna, which has a mastery of bringing high quality vehicles to market on time, with high quality and good economics. At 6.2x2025 EV/EBITDA and 0.6x2025 EV/Sales at our PT, FSR is our EV 'sleeper pick.'"

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 $15.64 yesterday.

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