Fisker (NYSE:FSR) stock is on the rise Friday after Morgan Stanley analyst Adam Jonas initiated coverage of the electric vehicle (EV) company.
The coverage of FSR stock starts off strong with an overweight rating. For comparison, the consensus rating for Fisker is buy with one sell rating, two hold ratings, and five buy ratings.
To go along with that bullish rating for FSR stock, the Morgan Stanley analyst assigned it a price target of $27. That’s well above the consensus price target of $22. It also represents a roughly 75% upside over the stock’s closing price on Thursday.
Adding to this is Morgan Stanley calling FSR stock its “EV sleeper pick.” Jonas says that other investors aren’t giving the EV company enough credit. He notes that Fisker has a strong road toward commercialization thanks to its connection with Magna International (NYSE:MGA), reports Seeking Alpha.
Plenty of contributors at InvestorPlace also have a bullish stance when it comes to FSR stock. You can check out the following articles to see what they have to say about the EV company.
- An Indefatigable Founder Makes the Best Case for Backing Fisker
- Why Fisker Continues to Look Significantly Undervalued
- Feature-Rich Cars Could Power Fisker Stock to the Next Level
- EV Investors Should Give Fisker a Shot
- An Ocean of EVs Could Elevate Fisker Stock
FSR stock was up 22.2% as of Friday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
