Shares of electric vehicle (EV) start-up Fisker (NYSE: FSR) got a boost today after an analyst initiated coverage with a buy rating, adding several bullish comments on the company and the stock. After popping 18% early on Tuesday, shares remained up about 9% as of 10:45 a.m. EDT.
Analysts at Bank of America (NYSE: BAC) said investors should buy Fisker, predicting shares could jump 150% from Monday's closing price to $31 per share. The analysts based that price target on 2025 sales and EBITDA estimates, comparing the valuation to that of Tesla's (NASDAQ: TSLA) early trading multiples.
Source Fool.com