Fisker (FSR) Announces Management Changes

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Go back to Fisker (FSR) Announces Management Changes

TD Cowen downgrades Fisker (FSR) as challenges continue to mount

January 17, 2024 10:27 AM EST

TD Cowen downgraded Fisker Inc. (NYSE: FSR) to a Market Perform rating (From Outperform) and cut their 12-month price target on the stock to $1.00 (From $11.00) after the company announced Wednesday that they may be facing a possible NHTSA probe stemming from complaints associated with the Ocean's braking system.

TD Cowens initial assessment of the company was positive, recognizing promise in Fisker's robust contract manufacturing relationships, appealing vehicle price point, and asset-light production approach. However, due to the increasing number and frequency of challenges faced by the company,... More