Fisker rating moved to Under Review at BofA

BofA is placing Fisker Under Review in light of recent events that give the firm less confidence in the company’s financials. Among the recent events, The Wall Street Journal reported that the company’s recently appointed Chief Accounting Officer left just a little over a week after starting and Fisker also delayed its Q3 earnings reporting as well as the publication of its 10-Q filing, the analyst tells investors. Given this series of events and the associated uncertainty, the firm is awaiting additional disclosures to gain a better understanding of the situation and it says investors should no longer rely upon its previously published reports, recommendation, price objective, or estimates.