Still think TITNC3: Return of the Iceberg was peak

DJ Its Been an Epic Week for Fisker. Heres What Wall Street Is Saying. -- Barrons.com
10:14 AM ET 2/26/21 | Dow Jones
By Al Root

Electric-vehicle start-up Fisker is having an epic week. A tech stock selloff, an EV stock selloff, new business partnerships, and fourth-quarter earnings all slammed into Fisker investors over the past few days. It was a lot to take in.

As the dust settles, Wall Street appears more bullish on Fisker (ticker: FSR) than it was a few days ago.

Coming into Friday, the Nasdaq Composite, home to many highly valued tech stocks, was down more than 5% for the week. That's because inflation fears are rising. Higher inflation means higher interest rates, which hurt highflying stock valuations more than other shares.

Many EV stocks are highly valued. Tesla (TSLA) trades for very roughly 100 times estimated 2022 earnings. Tesla shares have had it harder than the Nasdaq, falling almost 13% through Thursday.

Fisker stock, however, is up 20%. Shares jumped almost 40% after the company announced a new partnership with Foxconn Technology (2354.Taiwan), to produce a new Fisker vehicle together. That blockbusting announcement came Wednesday.

The company's fourth-quarter earnings report followed on Thursday evening. Fisker isn't generating sales right now, so earnings don't matter all that much. Still, it was a chance for analysts to ask about recent developments.

"We like the [Foxconn] deal as it diversifies Fisker away from its sole reliance with Magna producing vehicles in Austria," wrote Cowen analyst Jeffery Osborne in a Friday research report. Magna International (MGA) is building the Fisker Ocean, due in 2022.

Osborne rates FIsker shares Buy. He increased his price target for the stock Friday to $29 from $22. Morgan Stanley analyst Adam Jonas rates share Buy, too. He is more bullish than Osborne and increased his target price to $40 from $27. Jonas believes the potential for a mass-market EV produced with Foxconn is a material, positive change to the company's outlook.

Raymond James analyst Pavel Molchanov is a little more cautious. He rates Fisker shares Hold. His doesn't have a target price for the stock. Molchanov is cautious on the stock because he wants more detail from the company about battery supply.

"The ideal outcome would be a firm, multiyear supply contract with a top-tier supplier," wrote Molchanov in a Friday research report. He also wants more detail about the versions of the Fisker Ocean represented by the company's 12,000-plus reservation figures. He notes that the gross-profit-market guidance for the base Ocean model is 5%-8%, while the guidance for the Extreme version is 29%-33%.

Overall, four out of seven, or about 57%, of analysts covering Fisker rate shares Buy. The average Buy-rating ratio for stocks in the Dow Jones Industrial Average is about the same.

Fisker shares are down 0.8%, at $21.41, in early trading Friday. The S&P 500 is down 0.2%.

Write to Al Root at allen.root@dowjones.com

 

COWEN is a $TSLA HAaaaaaater...
No wonder

 

I wouldn't mind $GME flat for the rest of the day just to let the market recover...we can
next week...

 

HERE WE GO $SPY!!!
Happy friday buyers shopping for discounts...
Had a sandwich...
Bought some $TSLA...
let's go for $390


BTW the SPY and GME are now inverse trading again...

 

There she comes a crashing down. Ordered the wrong dip, wanted cheese dip

 

Waiter messed up my order also

 

Back into GME

 

Gonna need GME to either tank another $30-$40 or skyrocket....none of this BS now that I got in more

 

Always buying the dip on not so dipping. Smh

 

I’m thinking now I should’ve sold GME at the top yesterday for a $535 day trade and bought more this morning...

 

If I didn't buy that share we'd be sitting pretty, my bad guys

 

Selfish

 

I think it was me. Tanked right after.


Starting to think hedge funds are all playing us now. Bumping it up, we buy in. They laugh, tank it, take our money.

 

Don't doubt yourself...use what you learn

 

I don't understand the volume to price on $GME. Volume has doubled since open, and yet we are dipping...dipping...

 

Oh,
ANd you really can't learn anything from $GME because it's unique...A company worth zilch trading at a billion+ dollar market cap because of massive shorts being forced to cover...It would be an entire 400 level course in an economics/finance university program...
So basically $GME is hold and wait...or get out...and don't regret either way...

 

Buy:Sell ratio.

 

Well that doesn't make any sense. Apes don't sell.

 

HEdgies short...to each other...