2020-12-28 06:02:21 NKLA Nikola
General Motors
12/28/20 12/2806:02 12/28/2006:02 | JPMorgan cuts Nikola target but sees 'generally positive' news flow in 2021JPMorgan analyst Paul Coster lowered the firm's price target on Nikola (NKLA) to $35 from $40 and keeps an Overweight rating on the shares. The reduced year-end 2021 price target reflects the execution risk associated with a "tarnished brand," Coster tells investors in a research note. The analyst, however, expects the Nikola news flow "to be less drama-filled and to turn generally positive" in 2021. The shares have traded down 50% in the last month on news that the General Motors (GM) and Republic Services (RSG) partnerships have been abandoned, Coster says. He believes Nikola was "prudent" to exit these arrangements, preserving cash for execution of the Class 8 truck initiative. GM could still play an important role as a second-source supplier of fuel cells, notes Coster. The analyst expects Nikola to post a video of a functioning Tre in January and he looks for a "steady flow" of updates for the truck in 2021. Nikola
General Motors
Republic Services
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nLight 2.206M share Spot Secondary priced at $34.00 »
07:42 03/04/21 03/0407:42 03/04/2107:42
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WSFS Financial downgraded to Neutral from Outperform at Boenning & Scattergood »
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Skylight Health to acquire three U.S. primary care practices »
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Dyne Therapeutics expects cash to fund requirements into 2H24 »
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Dyne Therapeutics reports Q4 EPS (64c), consensus (37c) »
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Arbutus Biopharma sees cash runway into 3Q22 »
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Histogen initiated with a Buy at Canaccord »
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Arbutus Biopharma reports 2020 EPS ($1.00), consensus (98c) »
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Dicerna, Roche begin combo trial of GalXC for chronic HBV treatment »
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Agricultural Bank of China upgraded to Buy from Neutral at Goldman Sachs »
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Verrica Pharmaceuticals expects cash to support operations at least into 1Q22 »
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Canaccord upgrades Okta to Buy on recent selloff, accretive acquisition »
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Verrica says Torii exercises option to acquire license for VP-102 »
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Postal Savings Bank of China upgraded to Conviction Buy at Goldman Sachs »
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Verrica Pharmaceuticals resubmits NDA for VP-102 »
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Syros Pharmaceuticals reports Q4 EPS (62c), consensus (50c) »
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Verrica Pharmaceuticals reporrts Q4 EPS (52c), consensus (42c) »
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Yext downgraded to Market Perform on growth headwinds at William Blair »
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DraftKings becomes 'Official Sportsbook, Daily Fantasy Partner' of UFC »
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CureVac and Novartis in initial pact on Covid vaccine candidate »
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Dyne Therapeutics appoints Wildon Farwell as CMO »
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Regency Centers downgraded to Hold from Buy at Argus »
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Open Lending initiated with an Outperform at William Blair »
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Hookipa Pharma announces publication on alternating 2-vector cancer therapeutics »
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