Credit Suisse analyst Dan Levy lowered on Tuesday the firm’s price target on Fisker to $20 from $25 while maintaining an Outperform rating on the shares. As initially reported by The Fly, the analyst remains positive on the stock, and believes it is poised to capitalize on the rising global EV inflection, while also benefiting from a de-risked strategy. Although remaining positive, Levy sees the stock currently under pressure given an “unfavorable market for long-dated narratives”.
Last week, Fisker confirmed that will start the production of PEAR model at Foxconn factory in Ohio. The company expects to build a minimum of 250,000 PEAR vehicles a year once the plant ramps up production. Fisker’s second model (after the OCEAN) has an expected base price below $29,900.
Apple TV show Tehran featured, on the first episode of the second season, a Fisker Karma model. The episode of Emmy Award winning series went online on May 6 and Henrik Fisker quickly reacted on his Instagram account saying: “If you are looking for someone to design your new car, give us a shout!””
Last week, Henrik Fisker unveiled that the Project RONIN is a 4 door convertible targeting 600 mile range. Henrik also disclosed that the model will feature 3 motors and reach 0-60mph “close to 2 seconds”.
On the same day that announced its third EV model, Fisker released its Q1 2022 Financial Results evening followed by a Conference Call. Henrik Fisker unveiled high ambitions for the upcoming PEAR model saying that the three derivatives will enable the company to sell “a million PEARs a year sometime in 2027”.
Fisker CEO commented on his the announcement of the new model: Project Ronin that will be unveiled in August 2023. The GT will feature unique doors for better ingress and egress and a luxurious, sustainable vegan interior that plots a new, advanced design direction.
“Fisker RONIN, an innovative, high-tech electric GT Sports Car. Battery pack integrated into the structure for more efficiency and lower weight. Range over 550 miles. Expected pricing; starting just under $200k . Showing prototype august next year!”, Henrik said.