UPDATE: JPMorgan Downgrades Nikola Corp. (NKLA) to Neutral
- Nasdaq, S&P 500, set records as jobless claims decline
- Moderna (MRNA) Tops Q2 Street Estimates, Nabs $4.2 Billion from 199 Million Sold Vaccines That Yielded 93% Efficacy Through Six Months
- Oil rises over 1% as Mideast tensions face virus concerns
- Penn National Gaming (PENN) 'Scores' with $2 Billion Deal to Acquire theScore (SCR), Seen as 'Highly Strategic'
- Uber (UBER) Beats Estimates As Higher Labor Spend Drags on Profitability, Analysts Lower PTs but Remain Bullish
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
(Updated - March 5, 2021 4:51 AM EST)
JPMorgan analyst Paul Coster downgraded Nikola Corp. (NASDAQ: NKLA) from Overweight to Neutral, PT $30.00 (from $33.00).
The analyst comments "This is something of a tactical move, based on timing of catalysts. The 4Q report and guide provided investors with reassurance that the company is more focused, and has left much of the drama of 2020 behind. Furthermore, the Nikola Tre BEV truck launch is proceeding to schedule and the firm will be selling BEV trucks in 4Q21. This good news is now priced in the stock, so we step aside for now, but we believe the story should heat up again in mid/late 2021 if customer orders get announced, and as the first FCEV prototype comes to life."
Shares of Nikola Corp. closed at $16.03 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: RBC Capital Downgrades Karyopharm Therapeutics (KPTI) to Sector Perform
- Great Panther Mining Limited (GPR:CN) (GPL) PT Lowered to Cdn$1.30 at Cantor Fitzgerald, Following Earnings
- Rogers Sugar Inc. (RSI:CN) (RSGUF) PT Lowered to Cdn$5.50 at Scotiabank
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Downgrades, Hot Comments, Hot Downgrades
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!