Citi sees Fisker rallying 60%, calls it a high risk car of the future play

The New York Stock Exchange welcomes Fisker Inc. (NYSE: FSR), today, Monday, November 9, 2020, in celebration of its recent IPO.
Source: NYSE

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Citi is betting on newly public speculative electric vehicle start-up Fisker as a "car of the future" play, according to the firm's analyst.

Citi initiated coverage of the car company with a buy rating and a $26 per share 12-month price target, implying a 62% rally from Tuesday's closing price of $15.97 per share.