Fisker Inc (fka FSRNQ)

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Fisker initiated with a Buy at R. F. Lafferty; tgt $23
3:29 PM ET 2/17/21 | Briefing.com
. R. F. Lafferty initiates FSR with a Buy and price target of $23. Analyst Jaime Perez commented, "Fisker Inc. (NYSE: FSR) is a California-based designer and developer of premium electric vehicles (EV). The company is developing the Fisker Ocean, an all-electric midsize luxury SUV for the consumer market with an MSRP between $37,499-$69,900. The market for EVs (electric vehicles) has increased dramatically over the past several years as customers migrate from fossil-fueled transportation to green energy transportation. The main reason for the higher demand for EVs is climate change concerns among consumers. However, consumers have been slow to adopt EVs primarily because of driving distance limitations and extended battery charging time. The goal of the company is to become a "premium automaker producing more than 100,000 units". Fisker will introduce a prototype of the Ocean all-electric SUV in mid-2021. Then, the company will launch production of the Ocean in late 2022. We are initiating coverage of Fisker Inc. (NYSE: FSR) with a Buy rating and a $23 per share price target. Our price target is based on 7.5x EV/EBITDA multiple and 2023E Sales of $310 million."