UPDATE: DA Davidson Starts Nikola Corp. (NKLA) at Neutral

August 11, 2021 3:45 AM EDT
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Price: $2.85 +9.62%

Rating Summary:
    4 Buy, 7 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 2 | Down: 23 | New: 24
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(Updated - August 11, 2021 5:44 AM EDT)

DA Davidson analyst Michael Shlisky initiates coverage on Nikola Corp. (NASDAQ: NKLA) with a Neutral rating and a price target of $10.00.

The analyst comments "We are launching coverage on Nikola Corporation (NKLA) with a NEUTRAL rating and $10 price target. NKLA is in the process of beginning production of its battery-powered truck, which will be followed by its fuel-cell powered model. While the BEV seems like a relatively straightforward proposition, especially given the company's established technological alliances, the fuel-cell truck could be a tougher (and expensive) initiative. While NKLA's work ethic in the face of considerable challenges is admirable, in our view, there are some overhangs that other EV makers don't have. At current valuation levels, we're not ready to dive in yet."

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

Shares of Nikola Corp. closed at $10.40 yesterday.

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