Why Fisker Stock Is Surging Today

John Rosevear, The Motley Fool
·2-min read
Why Fisker Stock Is Surging Today

Shares of electric-vehicle start-up Fisker (NYSE: FSR) were trading higher on Wednesday, after a Wall Street analyst initiated coverage of the company with a bullish note. As of 11 a.m. EST, Fisker's shares were trading at $18.99, up about 18.9% from Tuesday's closing price. In a new note on Wednesday morning, Citi analyst Itay Michaeli initiated coverage of Fisker with a buy rating and a price target of $26.