Why This Fisker Analyst Is Bullish After Q2 Earnings

Fisker Inc’s (NYSE:FSR) second-quarter results were slightly better than expected, with lower operating expenses than anticipated, according to RBC Capital Markets.

The Fisker Analyst: Joseph Spak maintained an Outperform rating for Fisker, while reducing the price target from $14 to $13.

The Fisker Thesis: “More than numbers, it’s mostly about the vehicle at this point,” Spak wrote in the note.

He mentioned that Fisker was on track with the testing and validation of its vehicles, with 55 prototypes built and in the final testing stage. “Further, all 5k Ocean One launch editions sold out and secured by $5k down payment,” the analyst said.

Check out other analyst stock ratings.

Inflation remains a focus for investors and skeptics are unlikely to be satisfied by the additional information provided by Fisker, Spak stated. “While FSR is more asset-light than other automakers, more capital will be needed – we assume ~$1.25bn over the coming years,” he added.

FSR Price Action: Shares of Fisker had risen by 3.73% to $10.84 at the time of publication Thursday.

Leave a Reply

Your email address will not be published. Required fields are marked *