Nikola price target lowered to $3 from $5 at Deutsche Bank

Deutsche Bank analyst Emmanuel Rosner lowered the firm’s price target on Nikola to $3 from $5 and keeps a Hold rating on the shares. The strong negative market reaction to Nikola’s Q4 results and operational update reflects investor concerns about the company’s demand challenges and cautious volume outlook, the analyst tells investors in a research note. The firm believes the company’s mid-term targets could take time to materialize.