Fisker gains on plans to make special edition EVs for Indian market
17/07/2023 15:33
(Updates)
** Shares of electric vehicle (EV) startup Fisker FSR.N
rise 5.6% to $6.52
** FSR says it will produce 100 Fisker Extreme Vigyan
Edition all-electric SUVs for Indian market
** Says it expects to commence deliveries in Q4; pricing to
be on par with Europe
** Brokerage TD Cowen cuts PT to $14 from $19, citing
updated production estimates and closing of FSR's about $340 mln
convertible notes offering on July 11
** FSR produced 1,022 units of its Ocean SUV in Q2, lower
than 1,400 to 1,700 vehicles it had projected earlier
** 4 of 13 brokerages rate the stock "buy" or higher, 4
"hold" and 5 "sell" or lower; their median PT is $7 - Refinitiv
** Up to last close, stock had fallen ~15% YTD
(Reporting by Jaspreet Singh in Bengaluru)
((Jaspreet.Singh@thomsonreuters.com ; https://twitter.com/i_jass))