RBC Capital Downgrades Fisker (FSR) to Sector Perform

November 3, 2022 5:35 AM EDT
Get Alerts FSR Hot Sheet
Price: $7.08 -9.69%

Rating Summary:
    7 Buy, 7 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 24 | New: 19
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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."

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 $8.06 yesterday.

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