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EV maker stocks, including NIO (NYSE:NIO), Tesla (NASDAQ:TSLA), and Nikola (NASDAQ:NKLA), have seen a meteoric rise this year.
Analyst Price Target
On Wednesday, J.P. Morgan analyst Paul Coster upgraded Nikola stock to “overweight” from “neutral.” However, he reiterated the target price at $45.
On June 17, Cowen analyst Jeffrey Osborne initiated coverage on Nikola stock with an “outperform” rating and a target price of $79.
Nikola has been taking aim at the established legacy and EV automakers like Ford (NYSE:F) and Tesla (NASDAQ:TSLA) with its new Badger truck.
Nikola stock hasn’t been able to catch a break since its NASDAQ debut on June 4. The stock has increased by more than 136%.