Nikola got a rating upgrade from J.P. Morgan .
Analyst Paul Coster boosted rating on the hybrid truck design/manufacturing company's shares to overweight from neutral. Coster affirmed his price target at $45.
According to Coster, after a 40% month-to-date decline in July, the stock is beginning to look attractive for long-term investors ahead of a "number of potential positive catalysts in coming weeks and months." He is expecting some developments from Nikola such as the announcement of a manufacturing partner for the Badger truck, a hydrogen-fuel station deployment plan for the U.K., and speeding up of implementation plans for the FuelCell Energy truck in the U.S.
NKLA is expected to report earnings to rise 225.00% to -12 cents per share on September 02. The last earnings report on June 03 showed earnings per share of -3 cents, beating the estimate of -7 cents. With 13.51M shares outstanding, the current market capitalization sits at 14.52B.