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Demon Time coming 2024
Fisker is a top electric vehicle stock at Morgan Stanley | Seeking Alpha
Fisker soars after being named a top electric vehicle stock at Morgan Stanley
- Morgan Stanley initiates research coverage on Fisker (NYSE:FSR) with an Overweight rating and price target of $27.
- The firm calls Fisker its EV sleeper pick.
- Analyst Adam Jonas: "FSR is a play on an all new, asset-light, design-centered EV business model that improves time to market and break-even points. In a very crowded EV startup field, we think FSR stands out as one of the more de-risked and strategically underpinned business models."
- Jonas and team think investors underestimate that FSR's path to commercialization is significantly aided by Magna, which is said to have a mastery of bringing high quality vehicles to market on time, with high quality and good economics.
- Valuation is seen attractive at 6.2X estimated 2025 EV/EBITDA and 0.6X estimated 2025 EV/sales.
- Shares of Fisker are up 15.28% premarket to $17.81.
I should have brought more... But alas...