Fisker price target lowered to $4 from $5 at Barclays

Barclays lowered the firm’s price target on Fisker to $4 from $5 and keeps an Underweight rating on the shares. The company’s “difficult” Q3 print and guidance cut reflects challenges of ramp and the overall electric vehicle environment, the analyst tells investors in a research note. While Fisker’s progress to this point is commendable, the path ahead is likely even more difficult as capital needs remain, especially if full growth ambitions are pursued, leaving dilution overhang a clear issue, says the firm.