Analyst Coverage
Citigroup(Rank#9) analyst Itay Michaeli is optimistic about the future of Fisker FSR , stating that the beaten-up stock is likely to move up soon. The Citigroup analyst has Michaeli opened a “90-day upside catalyst watch” on the electric vehicle start-up, citing encouraging 2023 guidance.
Fisker plans to ship approximately 42,000 vehicles in 2023, marking its first year of significant deliveries. The company’s guidance was better than that of its competitors, Lucid and Rivian, but Fisker’s stock has not seen the same rally that Lucid and Rivian stocks experienced.
Michaeli believes that the next few months are crucial for Fisker, and if the company can win approval to sell the car in the U.S., ramp up production at Magna International, and stick with its 2023 guidance, the narrative around Fisker will change rapidly. He described Fisker’s business model as asset-light, as the company does not own a factory.
While Michaeli rates Fisker stock as a Buy and has a target price of $21, only four of the 10 covering the stock rate the shares as Buy, with an average analyst price target of about $10.50 per share, approximately half of Michaeli’s target.
Overall, Michaeli’s call for Fisker’s stock to move up soon is a high-risk/high-reward proposition, and investors should remain cautious. However, if Fisker can deliver on its milestones, the company’s narrative may quickly shift to embrace its compelling EV specs/price-points, asset-light model, and growth objectives.
FSR Stock Forecast & Analysis
Nine analysts predict an average target price of USD 9.33 for the next 12 months. The average analyst rating for the company is a “Buy”, which could indicate that the company’s future growth prospects are promising.
However, according to Stock Target Advisor’s analysis, the sentiment towards Fisker Inc is Very Bearish, which means that the overall market sentiment is negative towards the company’s future prospects. The analysis is based on 0 positive signals and 9 negative signals, suggesting that the company may be facing significant headwinds.
The last closing price for Fisker Inc’s stock was USD 5.73, which is lower than the average target price predicted by the analysts. The stock price has decreased by -4.18% over the past week and -52.76% over the past year, indicating that investors may be less optimistic about the company’s future prospects.
