Nikola, who was walking downhill due to the recent cancellation of the garbage truck contract, ended soaring 19%. This is the impact of the report that JPMorgan should be interested in long-term growth opportunities.
On the 28th (hereinafter referred to as local time), Nicola ended the market at $16.41, up 2.66 dollars (19.31%) from the previous day. Nikola has fallen to $13.75, falling for five consecutive trading days from the 18th.
On that day, JPMorgan lowered the target price of Nikola from $40 to $35, but maintained its overweight rating.
JPMorgan analyst Paul Coaster said, “I think there is an opportunity to generate $1.5 billion in EBITDA in 2027.” The current EBITDA margin is negative, but it is expected to rise to more than 10%.
As for the reason for lowering the target price, he said, “It reflects the decline in the brand value due to issues such as the resignation of the founder of Milton.”
Recently, after global energy companies BP and General Motors (GM), garbage disposal company Republic Service also stopped working with Nikola. Republic last August signed a contract with Nikola to purchase from 2500 to 5000 garbage trucks to develop a’zero emissions’ truck for garbage collection and recycling.
Eunbit Go, reporter Hankyung.com [email protected]
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