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.