Nikola (NKLA) Seems to Be Catching Wall Street’s Attention as Cowen Inc. Initiates Coverage of the Stock

Nikola (NKLA) Seems to Be Catching Wall Street’s Attention as Cowen Inc. Initiates Coverage of the Stock

4 years ago
Anonymous $GRbK1oXs9y

https://wccftech.com/nikola-nkla-seems-to-be-catching-wall-streets-attention-as-cowen-inc-initiates-coverage-of-the-stock/

Nikola (NASDAQ:NKLA), the manufacturer of electric trucks, crossed another milestone today as Wall Street initiated a formal coverage of the stock. While not a necessity, the initiation of coverage by analysts is viewed by many veteran investors as a sign of increased prominence and relevance.

Jeffrey Osborne, an analyst at Cowen (NASDAQ:COWN), initiated Nikola’s coverage today with an ‘Outperform’ rating and a $79 stock price target. This benchmark stock price translates to an upside potential of 22.48 percent relative to the current price level of $64.5 (as of 09:35 a.m. ET). Osborne has labeled Nikola an "intriguing investment opportunity" given that the company is trying to target three business segments – powersports, pickups, and autonomous vehicles – by using a single truck platform with two power train options. As a refresher, Nikola’s EVs will retail in two power configurations: an FCEV (Fuel-Cell Electric) or BEV (Battery-Electric). According to Osborne, the breadth of this “optionality” combined with the truck maker’s existing partnership ecosystem serve to de-risk Nikola’s 2021 production ramp. From a broader perspective, this strategy stands in sharp contrast to Tesla’s (NASDAQ:TSLA) approach of striving for maximal in-house production.

Last Seen
a couple of minutes ago
Reputation
0
Spam
0.000
Last Seen
about an hour ago
Reputation
0
Spam
0.000
Last Seen
18 minutes ago
Reputation
0
Spam
0.000
Last Seen
about an hour ago
Reputation
0
Spam
0.000
Last Seen
34 minutes ago
Reputation
0
Spam
0.000
Last Seen
14 minutes ago
Reputation
0
Spam
0.000
Last Seen
2 hours ago
Reputation
0
Spam
0.000
Last Seen
59 minutes ago
Reputation
0
Spam
0.000
Last Seen
8 minutes ago
Reputation
0
Spam
0.000