Fisker shares are trading lower after TD Cowen downgraded the stock from Outperform to Market Perform and lowered its price target from $11 to $1.
Portfolio Pulse from Benzinga Newsdesk
Fisker Inc.'s stock (FSR) is trading lower following a downgrade by TD Cowen from 'Outperform' to 'Market Perform' and a significant reduction in the price target from $11 to $1.
January 17, 2024 | 3:29 pm
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NEGATIVE IMPACT
Fisker Inc.'s stock price is expected to face downward pressure in the short term due to the downgrade by TD Cowen and a drastic cut in the price target.
Analyst downgrades and price target reductions typically lead to negative investor sentiment and can cause a stock's price to drop. The severity of the downgrade from 'Outperform' to 'Market Perform' and the substantial decrease in the price target from $11 to $1 suggest a significant change in the firm's outlook on Fisker, which could lead to a strong negative reaction in the market.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100