BTIG analyst Gregory Lewis lowered the firm’s price target on Nikola to $5 from $7 and keeps a Buy rating on the shares. The analyst notes that discussions at the latest Consumer Electronics Show was around the current battery prices and the costs of battery metals. Lewis adds that while Nikola has brought battery production in-house last year through an acquisition, these higher costs and the restructuring of that business are expected to weigh on vehicle production and margins in the near term.
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