UPDATE: Nikola downgraded at J.P. Morgan for 'tactical' reasons, including timing and valuation

最新消息:尼古拉下调摩根大通评级的原因是“战术”原因,包括时机和估值

2021/03/06 03:57  MarketWatch

MW UPDATE: Nikola downgraded at J.P. Morgan for 'tactical' reasons, including timing and valuation

Tomi Kilgore

Stock selloff comes amid broad weakness in the EV sector, after Volkswagen doubled down on its EV ambitions

Nikola Corp. was downgraded at J.P. Morgan, for what analyst Paul Coster said was for "tactical" reasons, including shorter-term concerns over valuation.

The electric vehicle maker's stock (NKLA) slumped 8.1% in afternoon trading Friday, and has now tumbled 18.7% amid a four-day losing streak.

Coster cut his rating to neutral, after being at overweight for the past eight months. He trimmed his stock price target to $30 from $33, but that new target was still more than double the recent price.

"This is something of a tactical move, based on timing of catalysts," Coster wrote in a research note for clients.

He said Nikola's fourth-quarter results (https://www.marketwatch.com/story/nikola-stock-gains-after-narrower-q4-loss-for-electric-truck-maker-11614287710) reassured investors that the company is more focused, "and has left much of the drama of 2020 behind." In addition, Nikola's Tre battery electric vehicle (BEV) truck launch is on schedule, with BEV trucks expected to be sold in the fourth quarter.

"This good news is now priced in the stock, so we step aside for now, but we believe the story should heat up again in mid/late 2021 if customer orders get announced, and as the first [fuel cell electric vehicle] prototype comes to life," Coster wrote.

What might also be weighing on sentiment, Volkswagen AG doubled down on its EV ambitions (https://www.volkswagenag.com/en/news/2021/03/volkswagen-is-accelerating-transformation-into-software-driven-m.html), saying Friday that it now expects to increase its market share of EV cars in Europe to 70% by 2030, up from its previous target of 35%. In the U.S. and China, the company said it is targeting market share of 50% in the same time.

Among other EV makers, shares of Tesla Inc. (TSLA) lost 3.9%, Nio Inc. (NIO) shed 5.9%, Workhorse Group Inc. (WKHS) dropped 7.1%, XPeng Inc. (XPEV) gave up 6.3% and Li Auto Inc. (LI) slipped 0.7% in afternoon trading on Friday.

The EV selloff comes while the Nasdaq Composite Index rose 1.1% and the S&P 500 index rallied 1.6%.

Separately, Nikola disclosed late Thursday that founder and the company's largest shareholder, Trevor Milton, sold 552,486 Nikola shares in the open market (https://www.sec.gov/Archives/edgar/data/1731289/000114036121007343/xslF345X03/form4.xml) on March 2, to raise $8.0 million. That left Milton, who surprisingly resigned as executive chairman in September, with a stake of 82,951,640 shares, or about 21.2% of the shares outstanding as of Feb. 19.

Also read: Here's what Wall Street is saying about Nikola founder's 'shocking' departure (https://www.marketwatch.com/story/heres-what-wall-street-is-saying-about-nikola-founders-shocking-departure-2020-09-21).

-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

March 05, 2021 14:57 ET (19:57 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

MW更新:尼古拉下调摩根大通的评级,原因包括时机和估值

托米·基尔戈尔

在大众(Volkswagen)加倍押注电动汽车雄心后,电动汽车行业普遍疲软,股票遭到抛售

摩根大通(J.P.Morgan)下调尼古拉(Nikola Corp.)评级,分析师保罗·科斯特(Paul Coster)表示,这是出于“战术”原因,包括对估值的短期担忧。

这家电动汽车制造商的股票在周五下午的交易中暴跌8.1%,目前已经连续四天下跌18.7%。

科斯特将其评级下调至中性,此前他在过去8个月一直处于增持状态。他将目标股价从33美元下调至30美元,但这个新目标仍是最近股价的两倍多。

科斯特在一份给客户的研究报告中写道:“这在某种程度上是一种战术举措,基于催化剂的时机。”

他说,尼古拉第四季度的业绩(https://www.marketwatch.com/story/nikola-stock-gains-after-narrower-q4-loss-for-electric-truck-maker-11614287710)让投资者放心,公司更加专注于此,“而且已经把2020年的大部分戏剧性事件抛在脑后。”此外,尼古拉的Tre电池电动汽车(Bev)卡车的发布也在如期进行,Bev卡车预计将在第四季度售出。

“这个好消息现在已经反映在股价中了,所以我们暂时退到一边,但我们相信,如果客户订单被宣布,故事应该会在2021年年中/晚些时候再次升温,而且是第一个。”[燃料电池电动汽车]原型变得栩栩如生。“科斯特写道。

大众汽车公司(Volkswagen AG)上周五表示,预计到2030年将电动汽车在欧洲的市场份额提高到70%,高于此前35%的目标。这也可能令市场人气承压。大众汽车公司(Volkswagen AG)上周五加倍押注电动汽车雄心壮志(EV雄心(https://www.volkswagenag.com/en/news/2021/03/volkswagen-is-accelerating-transformation-into-software-driven-m.html),)。该公司说,在美国和中国,它的目标是同时占据50%的市场份额。

在其他电动汽车制造商中,特斯拉(Tesla Inc.)股价在周五下午的交易中下跌3.9%,Nio Inc.下跌5.9%,WorkHorse Group Inc.下跌7.1%,XPeng Inc.下跌6.3%,李车(Li Auto Inc.)下跌0.7%。

电动汽车抛售之际,纳斯达克综合指数(Nasdaq Composite Index)上涨1.1%,标准普尔500指数(S&P500)上涨1.6%。

另外,尼古拉周四晚些时候披露,公司创始人兼最大股东特雷弗·米尔顿(Trevor Milton)于3月2日在公开市场(https://www.sec.gov/Archives/edgar/data/1731289/000114036121007343/xslF345X03/form4.xml)出售了554,486股尼古拉股票,筹资800万美元。这使得去年9月意外辞去执行董事长职务的米尔顿持有82,951,640股股份,约占截至2月19日已发行股份的21.2%。

另请阅读:以下是华尔街对尼古拉创始人(https://www.marketwatch.com/story/heres-what-wall-street-is-saying-about-nikola-founders-shocking-departure-2020-09-21).离职一事的评论

-Tomi Kilgore;电话:415-439-6400;电子邮件:AskNewswres@dowjones.com

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2021年3月5日14:57美国东部时间(格林尼治标准时间19:57)

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