Is Fisker (FSR) Set to Hit New Highs Soon After The Recent News?

Electric vehicle stocks have been in considerable focus among investors for most of the past year and more importantly, there are now plenty of options for investors to consider. One of those stocks is that of Fisker (NYSE: FSR), an electric vehicle firm that is based out of California.

Over the course of the past two weeks, the Fisker stock has been in the middle of a strong move and rallied by as high as 20%. The rally came about after it emerged that Adam Jonas, an analyst at Morgan Stanley sent out a bullish note on the stock. The analyst rates the Fisker stock as ‘overweight’ and set the target price at $27.

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Jonas is a well-known electric vehicle industry analyst and in his note, he stated that the bullishness about Fisker originates from the fact that the company’s business model is asset-light. That business model will possibly give the company a greater chance of breaking even eventually.

Michael Rowels

Weekend Contributor. Writing for business and finance publishers has become his passion over the last decades after he completed a master's degree in Financial Management. Sharing some opinions and forecasts to thousands of readers is a routine job for him but he never promises to invest in one stock.