Nikola shares are trading higher after Baird initiated coverage on the stock with an Outperform rating and $2 price target.
Portfolio Pulse from Benzinga Newsdesk
Nikola Corporation's stock (NKLA) is trading higher following an Outperform rating initiation and a $2 price target from Baird.
January 24, 2024 | 5:25 pm
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Baird initiated coverage on Nikola Corporation with an Outperform rating and a $2 price target, leading to an increase in the stock's trading price.
Analyst ratings, especially initiations of coverage with positive outlooks, can have a significant impact on stock prices in the short term. Baird's Outperform rating and the $2 price target suggest a positive view on NKLA's future performance, which can instill investor confidence and drive up the stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100