Zack’s currently ranks Nikola Motor as a buy. Forecasted at a median target price of $5, double their current price, an average of $6.71 and a projected high of $15.
Nikola has a working product in the BEV semi and has been producing hundreds of trucks, with the FCEV model being launched this year with hundreds pre-ordered already.
Nikola named a new CEO this quarter who has decades of industry experience including CFO of Mitsubishi, CFO of Volkswagen Group, and CEO of Opal.
This quarter it was announced Nikola received California’s CARB benefits eligibility which provides sales incentives of $240,000 to $280,000 per truck. As well as eligible for a $40,000 clean commercial vehicle tax credit from the federal government.
Phase 3 of their factory in Arizona is nearing complete with the ability to increase production to 20,000 trucks per year at that factory not including their joint venture with IVECO factory in Germany.
Nikola also launched their hydrogen business HYLA. Dedicated to procuring, producing and distributing hydrogen fuel for truck.
Is there a strong case that Nikola is worth more than its current share price?
Sources: https://www.zacks.com/stock/news/2053455/heres-why-nikola-nkla-is-a-great-buy-the-bottom-stock-now?art_rec=quote-quote-zacks_news-ID03-txt-2053455
https://money.cnn.com/quote/forecast/forecast.html?symb=nkla
https://www.marketwatch.com/investing/stock/nkla/analystestimates
https://nikolamotor.com/press_releases/nikola-tre-fcev-receives-carb-hvip-incentive-eligibility-228
https://nikolamotor.com/press_releases/nikola-corporation-celebrates-the-customer-launch-of-serial-production-in-coolidge-arizona-163
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