Nikola (NKLA:NSD) Analysts believe Stock will Double

Analyst Coverage Changes

Today, January 17th, STA Research upgraded Nikola from a “Buy” rating to a “Strong Buy” rating and assigned a target price of USD 5 per share. This means that the research firm believes the stock is undervalued and has significant potential for growth. They are recommending that investors buy the stock and expect the stock price to reach the target price of USD 5 in the future.

BTIG Research has “Reiterated” their “Buy” rating for the stock and lowered their target price from USD 7 to USD 5. This means that the research firm maintains their positive outlook for the stock, but they have reduced their expectation of how high the stock will go in the future.

Nikola Stock Forecast

According to the stock forecasts from six analysts, the average target price for Nikola Corp’s stock is USD 8.20 over the next 12 months. This means that the analysts expect the stock to increase in value by approximately 216% within the next year. Additionally, the average analyst rating for the company is “Strong Buy,” which suggests that the majority of analysts believe that the stock is undervalued and has significant potential for growth.

Stock Target Advisor, a stock analysis firm, has a “Slightly Bearish” rating for Nikola Corp. This rating is based on a combination of positive and negative signals, with three positive signals and six negative signals. This suggests that while the firm recognizes some potential for growth, they also see significant risks associated with the stock.

The last closing price for Nikola Corp’s stock was USD 2.55. Additionally, the stock price has changed by +11.84% over the past week, +5.37% over the past month, and -74.70% over the last year. This indicates that the stock has been highly volatile, experiencing both significant gains and losses over the past year.

About Nikola Corp.

Nikola Corporation is an American company that specializes in the development of electric and hydrogen-electric vehicles, energy storage systems, and infrastructure for the transportation and power generation industries. The company was founded in 2014 by Trevor Milton, and it went public in June 2020 through a reverse merger with VectoIQ Acquisition Corp.

Nikola’s main focus is on the development of zero-emission semi-trucks, which they plan to produce and sell to commercial customers. The company also plans to build a network of hydrogen fueling stations to support the operation of their trucks. In addition to vehicles, Nikola also plans to develop energy storage systems and other clean energy products.

The company has faced some controversies, particularly related to its financials and some of the claims made by its founder.

 

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