Business Citi sees Fisker rallying 60%, calls it a excessive...

Citi sees Fisker rallying 60%, calls it a excessive danger automotive of the longer term play

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The New York Inventory Trade welcomes Fisker Inc. (NYSE: FSR), at the moment, Monday, November 9, 2020, in celebration of its current IPO.

Supply: NYSE

(This story is for CNBC Pro subscribers solely.)

Citi is betting on newly public speculative electrical car start-up Fisker as a “automotive of the longer term” play, in response to the agency’s analyst.

Citi initiated protection protection of the automotive firm with a purchase score and a $26 per share 12-month worth goal, implying a 62% rally from Tuesday’s closing worth of $15.97 per share.

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