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Fisker Stock Climbs After Bullish Credit Suisse Rating -Breaking

by Mike Robinson

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© Reuters.

Sam Boughedda

Investing.com — Electric vehicle firm Fisker Inc (NYSE:)’s stock jumped 2.3% on Tuesday after Credit Suisse initiated it with an outperform rating. 

Fisker stock traded at $19.52 during the afternoon session after hitting a peak of $20.26 within the first hour Tuesday trading.

“With electric vehicle (EV) uptake sharply inflecting and the market lacking sufficient model options, Fisker offers a compelling value proposition – sleek product at a high-volume price point,” said analyst Dan Levy.

Levy stated that while traditional automakers make the transition to EVs and startups have the chance to be successful in this fast-developing industry.

Fisker, who uses a low-risk business strategy to accelerate its development and track to scaled production, can unlock lower price points while adding that Fisker is able to do this by leveraging it.

An analyst set the target price at $32

According to a TipRanks survey of five analysts, three have given the stock a buy rating and two gave the stock a hold rating. The price target average is $21.60

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