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(NKLA), Tesla Motors, Inc (NASDAQ:TSLA) - Nikola Gets Wedbush Upgrade As Negative Catalysts Have Played Out

Share: Nikola Corp (NASDAQ: NKLA) has received an upgrade from Wedbush as most of the “negative catalysts” have played out.  The Nikola Analyst: Wedbush analyst Daniel Ives changed his rating to Neutral on Nikola from the previous Underperform and upped the price target to $25 from the earlier $15. The Nikola Thesis: Ives acknowledged that while some hurdles remain for the Phoenix, Arizona-based automaker, a scenario of a more “balanced risk/reward” on the name has emerged looking ahead. “We still believe the company s EV and hydrogen fuel cell ambitions are attainable in the semi-truck market,” Ives wrote in a note. Ives pointed to the completion of Nikola’s prototype trucks in Germany and the build of the Arizona flagship factory as positives and said Wedbush believes that a “strategic hydrogen partnerships could be on the near-term horizon both in the US and across Europe.”

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