RBC Capital Downgrades Fisker (FSR) to Sector Perform
- Tech, megacaps drag Wall St to lower close as big market week kicks off
- Recession EV price wars have started, expected another 15-20% in cuts - Chowdhry
- Johnson & Johnson shares tumble on reports talc unit bankruptcy case dismissed by appeals court
- 'Don't Fight the Fed' is still alive and this week will serve as a reminder - MS Wilson
- Ford to cut prices while 'significantly' increasing Mach-E production amid Tesla cuts
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
RBC Capital analyst Joseph Spak downgraded Fisker (NYSE: FSR) from Outperform to Sector Perform with a price target of $8.00 (from $13.00).
The analyst comments "We are moving to the sidelines seeing near-term execution risk and lower units in the outer-years as the product could be less competitive in the face of the Inflation Reduction Act. The company is approaching SOP (Nov. 17th) and media reviews are likely in coming weeks. This could be a positive event, but post this, we see limited catalysts and high execution risk. All told, we see more balanced upside/downside now."
Shares of Fisker closed at $8.06 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- R5 Capital Downgrades Kroger (KR) to Sell, 'particularly vulnerable'
- LG Electronics (066570:KS) PT Raised to KRW130,000 at Nomura/Instinet
- Kasikornbank PCL (KBANK:TB) (KPCPY) PT Raised to THB180 at JPMorgan
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Downgrades
Related EntitiesRBC Capital
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!