R.F. Lafferty analyst Jaime Perez lowered the firm’s price target on Fisker to $10 from $12 and keeps a Buy rating on the shares ahead of the company reporting Q2 earnings on the morning of August 4. The firm, which notes that Fisker began its first deliveries into the European market in May and its first deliveries to the U.S. in mid-June, expects the company to report a sequential increase in revenues from its initial deliveries of the Fisker Ocean. The firm’s 2024 EBITDA estimate of $197M is lower than its prior forecast of $213M to reflect slower production and deliveries.
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