$FSR is an EV company that engages in researching, developing, and producing next-generation electrically powered vehicles.
5 hours ago, Morgan Stanley set a PT of $27 for $FSR:
Since the report, it has risen 8.74% in the after-hours, putting it at $16.79. That's a 60% potential gain at a PT of $27.
This stock ran to $23 in November off a $26 pt from Credit Suisse. A couple $15-16 targets sent this into a long accumulation range that its finally ready to break out of.
Fisker has failed previously with car companies specifically, so why is it different this time?
Henrik Fisker owns patents on solid-state battery tech and teased class-leading range in a call at the Goldman Sachs conference today
Magna is their manufacturing partner and owns a 6% stake as part of the deal
Besides Morgan Stanley, other analysts and research groups have almost unanimously put $FSK as a "buy" and a price target well above its current price.
Other equities research analysts also recently issued research reports about the stock. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell initiated coverage on shares of Fisker in a research note on Wednesday, November 25th. They set a “buy” rating and a $26.00 price target on the stock. Smith Barney Citigroup began coverage on shares of Fisker in a research note on Wednesday, November 25th. They issued a “buy” rating and a $26.00 target price on the stock. Wolfe Research began coverage on shares of Fisker in a research note on Wednesday, December 9th. They issued an “underperform” rating and a $16.00 target price on the stock. Vertical Research began coverage on shares of Fisker in a research note on Monday, January 4th. They issued a “buy” rating on the stock. Finally, Raymond James began coverage on shares of Fisker in a research report on Thursday, January 21st. They set a “market perform” rating on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $21.00.
Do I think it's a great long term hold? No. But the Morgan Stanley valuation alone is a big enough hype to raise the price well above $20 in the short term according to my research.
Positions: $FSR 3 contracts $18.5c 3/5
Submitted February 11, 2021 at 10:33PM by captain_holt_nypd https://ift.tt/3rMgnl3
