UPDATE: JPMorgan Starts Nikola Corp. (NKLA) at Neutral, Would Be More Constructive on Pullback

June 22, 2020 5:23 AM EDT
Get Alerts NKLA Hot Sheet
Price: $12.03 -15.22%

Rating Summary:
    4 Buy, 6 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 18 | Down: 11 | New: 19
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(Updated - June 22, 2020 8:26 AM EDT)

(updating comment)

JPMorgan analyst Paul Coster initiates coverage on Nikola Corp. (NASDAQ: NKLA) with a Neutral rating and a price target of $45.00.

The analyst comments "NKLA is poised to disrupt the transportation industry with rapid deployment of hydrogen infrastructure and FCEVpowered vehicles for use on long haul trucking routes, reducing CO2 emissions meaningfully and positioning the firm for a key role in the future hydrogen economy. The resulting business model could be compelling, however risks are elevated for this pre-revenue company, and the stock looks fully valued here, so we look for a pull-back or incremental positive developments to get more constructive."

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 $65.35 yesterday.

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