Credit Suisse sees this EV start-up rallying nearly 70% from here

Reporters gather around a Fisker Karma during the Los Angeles Auto show on November 29, 2012 in Los Angeles, California.
Kevork Djansezian | Getty Images

Electric vehicle start-ups have a big opportunity for success in front of them even as legacy automakers are "moving to a fully EV world," Credit Suisse said in a note Tuesday. The firm is also bullish on one new EV maker in particular, calling its valuation "too attractive to pass up."