Market Overview

Fisker Shares Rally On Bullish Projections For EV Developer

Fisker Shares Rally On Bullish Projections For EV Developer

Fisker Inc (NYSE: FSR), which recently went public via a special purpose acquisition company deal, has traded higher since its New York Stock Exchange Debut.

The stock received a charge yesterday after a sell-side analyst took a bullish stance on the electric vehicle stock. 

The Fisker Analyst: Cowen analyst Jeffrey Osborne initiated coverage of Fisker with a Buy rating and $22 price target, Barron's reported Monday. 

Related Link: 7 Current And Former SPACs That Could Be 2020 Election Plays

The Fisker Takeaways: The upcoming Fisker Ocean SUV is “compelling,” Osborne said. 

The vehicle has over 9,000 paid deposits, and the analyst expects that number to rise in 2021.

Fisker is adding influencers and celebrities to help build the brand, which he said could boost the automaker's preorder numbers.

Cowen's $22 price target is based on two times Osborne’s estimated $3.2 billion in 2023 sales. The analyst projects that 2022 sales will hit $556 million.

Tesla Inc (NASDAQ: TSLA) trades at six times estimated 2023 sales, Osborne said. Tesla is used as a benchmark for many electric vehicle startups.

FSR Price Action: Shares of Fisker were up 28.73% at $13.98 at last check Monday. 

Courtesy photo. 

Latest Ratings for FSR

Nov 2020CitigroupInitiates Coverage OnBuy
Nov 2020Cowen & Co.Initiates Coverage OnOutperform

View More Analyst Ratings for FSR
View the Latest Analyst Ratings


Related Articles (FSR)

View Comments and Join the Discussion!

Posted-In: Barron's CowenAnalyst Color Price Target Initiation Analyst Ratings Movers Trading Ideas Best of Benzinga

Latest Ratings

ESTCCanaccord GenuityMaintains150.0
AVAVCanaccord GenuityMaintains98.0
OKTACanaccord GenuityMaintains250.0
SNOWCanaccord GenuityMaintains275.0
RCMSVB LeerinkMaintains26.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at