Inverse Zone

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Citi sees Fisker rally 60%, calls it high-risk car from the future play

The New York Stock Exchange welcomes Fisker Inc. (NYSE: FSR), today, Monday, November 9, 2020, to celebrate its recent IPO.

Source: NYSE

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Citi bets on a new public speculative electric vehicle start-up Fisker like a “car of the future”, according to the analyst of the firm.

Citi initiated a hedge cover of the automaker with a buy note and a 12-month price target of $ 26 per share, which implies a 62% rally from Tuesday’s closing price of 15.97 $ per share.

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