It was an epic week for Fisker. Here’s what Wall Street is saying.

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Electric vehicle departure

Fisker

is having an epic week. A sale of technology stocks, a sale of EV shares, new business partnerships and fourth-quarter earnings all hit Fisker investors in the past few days. It was too much to absorb.

As the dust settles, Wall Street seems more upbeat on Fisker (ticker: FSR) than it did a few days ago.

Arriving on Friday, the

Nasdaq Composite,

home to many highly valued technology stocks, it fell more than 5% in the week. That’s because fears of inflation are mounting. Higher inflation means higher interest rates, which hurt rising stock valuations more than other stocks.

Many EV actions are highly valued.

Tesla

(TSLA) trades approximately 100 times the estimated earnings of 2022. Tesla’s shares have been in more trouble than Nasdaq’s, falling nearly 13% through Thursday.

Fisker’s shares, however, rose 20%. The shares jumped almost 40% after the company announced a new partnership with

Foxconn Technology

(2354.Taiwan), to produce a new Fisker vehicle together. That successful announcement came on Wednesday.

The company’s fourth-quarter earnings report was published late on Thursday. Fisker is not generating sales now, so earnings don’t matter much. Still, it was a chance for analysts to ask about recent developments.

“We like the [Foxconn] business, as it diversifies Fisker away from its exclusive dependence with

Magna

producing vehicles in Austria, ”wrote Cowen analyst Jeffery Osborne in a research report on Friday.

Magna

(MGA) is building the Fisker Ocean, due in 2022.

Osborne values ​​FIsker shares as Buy. He raised the share’s target price on Friday from $ 22 to $ 29. Adam Jonas, an analyst at Morgan Stanley, also values ​​Buy’s shares. He is more optimistic than Osborne and raised his target price from $ 27 to $ 40. Jonas believes that the potential for a mass-market EV produced with Foxconn is a material and positive change for the company’s prospects.

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Raymond James analyst Pavel Molchanov is a little more cautious. He assesses Fisker Hold’s shares. His does not have a target price for the stock. Molchanov is cautious about the actions because he wants more details from the company about the supply of batteries.

“The ideal outcome would be a firm, multi-year supply contract with a top supplier,” wrote Molchanov in a research report on Friday. He also wants more details about the versions of Fisker Ocean represented by the company’s more than 12,000 reservation numbers. He notes that the gross profit market orientation for the basic Ocean model is 5% -8%, while the orientation for the Extreme version is 29% -33%.

Overall, four out of seven, or about 57%, of the analysts who cover Fisker’s shares buy. The average purchase rating ratio for shares in the

Dow Jones Industrial Average

it’s almost the same.

Fisker shares fell 0.8% to $ 21.41 at the beginning of Friday’s trading session. THE

S&P 500

fell 0.2%.

Write to Al Root at [email protected]