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NKLA

Nikola

$21.28 /

-6.63 (-23.75%)

, GM

General Motors

$44.13 /

-0.89 (-1.98%)

12:12
11/30/20
11/30
12:12
11/30/20
12:12

Nikola deal with GM being mischaracterized, is a positive, says Cowen

Cowen analyst Jeffrey Osborne keeps an Outperform rating on Nikola (NKLA) with a $47 price target after the company announced a non-binding global supply agreement with General Motors (GM). The press and investors are mischaracterizing the situation, Osborne tells investors in a research note. The analyst sees the deal as a positive development since it reduces dilution and cash burn and focuses management on a "complex ramp of production" of both fuel cell electric vehicles and battery electric vehicle Class 8 trucks. While the prior deal called for Nikola to give $2B in stock to GM, this deal does not, which is a positive, according to Osborne. The analyst points out that GM was never buying $2B of stock as the company was getting it for free under the prior proposed arrangement. Nikola also reiterated its previously announced timeline for its semi-trucks, adds Osborne.

NKLA

Nikola

$21.28 /

-6.63 (-23.75%)

GM

General Motors

$44.13 /

-0.89 (-1.98%)

  • 02

    Dec

NKLA Nikola
$21.28 /

-6.63 (-23.75%)

11/30/20 JPMorgan
Nikola pullback could be a good buying opportunity, says JPMorgan
11/30/20 Wedbush
Wedbush keeps Underperform rating on Nikola as revised GM deal disappoints
11/30/20 Deutsche Bank
Nikola to see 'large stock volatility' this week, says Deutsche Bank
11/25/20 JPMorgan
Nikola lower as investors focus on 161M share lockup, says JPMorgan
GM General Motors
$44.13 /

-0.89 (-1.98%)

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