UPDATE: JPMorgan Downgrades Nikola Corp. (NKLA) to Neutral

March 5, 2021 4:13 AM EST
Get Alerts NKLA Hot Sheet
Price: $10.15 -4.25%

Rating Summary:
    4 Buy, 6 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 22 | Down: 26 | New: 45
Trade Now! 
Join SI Premium – FREE

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."

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 $16.03 yesterday.

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst PT Change, Downgrades, Hot Comments, Hot Downgrades

Related Entities