Why Shares of Fisker Are Stuck in Reverse Today
On a day when the S 500 and Dow Jones Industrial Average are inching higher, shares of Fisker (NYSE: FSR) are racing in the other direction. An analyst's unfavorable outlook on the electric vehicle (EV) stock is motivating investors to park it somewhere other than their portfolios.
As of 1:48 p.m. ET Thursday, shares of Fisker had declined by 9.2%.
Seeing a slight downside to the stock, analyst Rod Lache of Wolfe Research downgraded Fisker to underperform from peer perform, assigning it a $6 price target. Based on Wednesday's closing price of $6.18, that implied a downside of about 3%.
Source Fool.com
