Why Fisker Stock Stalled Today
Some electric vehicle (EV) stocks continue to have quite the charge for investors, but lately Fisker (NYSE: FSR) hasn't been among them. Investor sentiment dimmed following the company's latest earnings release, compounded by several analyst price target cuts. On Friday, these factors drove Fisker's share price down by almost 9%.
The latest in a series of Fisker stock price target reductions occurred Friday morning. It was enacted by Barclays (NYSE: BCS) analyst Brian Johnson, who now thinks the shares are worth $16 apiece rather than his previous $18. He is maintaining his equal-weight (i.e., neutral) recommendation, but he did point out in his latest research note that reservations for Fisker's Ocean EV, an SUV, have increased notably.
Image source: Fisker.
Source Fool.com
