Evercore ISI Is Souring on Fisker (FSR) Stock


  • Fisker (FSR) stock is dropping alongside an analyst downgrade.
  • That downgrade comes from Evercore ISI analyst Chris McNally.
  • The analyst also lowered his price target for FSR shares.
FSR Stock - Evercore ISI Is Souring on Fisker (FSR) Stock

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Fisker (NYSE:FSR) stock is falling on Monday as investors react to a new analyst rating for the electric vehicle company’s shares.

Evercore ISI analyst Chris McNally downgraded shares of FSR stock from an “outperform” rating to an “in line” rating today. For comparison, the analyst consensus rating for FSR shares is a hold based on 10 opinions.

It’s also worth pointing out that the Evercore ISI analyst dropped the price target for FSR stock from $6 per share to $2 per share. That’s still a potential 15.6% upside of the stock’s prior close. However, it’s incredibly bearish next to the analyst consensus price prediction of $6.89 per share.

What’s Behind the Bearish Stance on FSR Stock?

Here’s what McNally said about Fisker in a note to clients obtained by Seeking Alpha:

“In addition to a general lack of execution or tangible evidence of increased execution, we see FSR’s next 12 months as a highly precarious tightrope of execution, brand risk, capital raises & dilution.”

Stock movement for FSR has some 4 million shares changing hands as of this writing. That’s still well below its daily average trading volume of about 12.6 million shares.

FSR stock is down 3.1% as of Monday morning and down 75.7% since the start of the year.

Investors looking for more of the hottest stock market news will want to stick around!

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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2023/12/evercore-isi-is-souring-on-fisker-fsr-stock/.

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