Adam Jonas Strikes Again: Downgrades Fisker Shares to Underweight

Fisker shares drop 5.21% on the day after automotive analyst Adam Jonas of Morgan Stanley slaps an underweight rating on the stock.

Adam Jonas, Head of Global Auto & Shared Mobility Research at Morgan Stanley
Adam Jonas, Head of Global Auto & Shared Mobility Research at Morgan Stanley.

Today, we woke up to another downgrade out of Morgan Stanley. Adam Jonas, the highly regarded auto analyst, slapped an underweight rating on Fisker shares this morning. In 2022, Jonas changed his 12-month price objective on Fisker shares five times after reiterating his $30 target in February of last year. Jonas started out 2022 with a 12-month price target of $30/share on Fisker stock. Then, he dropped Fisker’s price target to $20/share, $15/share, $10/share, and $8/share by year-end.

Now, Jonas’ newest rating and 12-month price target is $4/share. As reported by Seeking Alpha this morning, the Morgan Stanley analyst said, “While we like the FSR story and strategy (design, engineering, and supply chain and their relationship with Tier 1 supplier Magna-Steyr), FSR’s need for capital, an unfavorable re-balancing of supply and demand in the EV space (where even Tesla, the current market leader, has announced sharp and unprecedented price cuts globally), and a potentially crowded EV market during a time of ongoing deterioration in the macro environment drives us to downgrade the stock to UW.”

There is no question Tesla’s recent price cut has analysts weary about “potential oversupply” of EVs. However, Henrik Fisker confirmed last week that his company hasn’t seen any major amount of reservation cancellations. In fact, Henrik shared Fisker continues to see new reservations each day from the United States and Europe. And today, Henrik Fisker responded to Adam Jonas after the downgrade out of Morgan Stanley this morning. He said, “Don’t worry! He will get a big surprise very soon! 😉”

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8 thoughts on “Adam Jonas Strikes Again: Downgrades Fisker Shares to Underweight

  1. To be fair HF did not respond to Adam Jonas . He replied to a Stocktwits users post. With that said, this time around I’m excited to learn what the “surprise” is. I think it will be of substance. Thanks for your dedication and covering fisker btw 👍

  2. He changed his price target every 3 months. Really? Adam Jonas, the highly regarded auto analyst??? Wonder how he does his analysis, my 6 y.o could have guessed the same. What a genius. That tells a lot how wrong he was each times in the first place. Analysts in general are just scammers that should be always under scrutiny and hold accountable by SEC. And people even listen.

  3. I still believe Fisker will be one of the winners, persistence makes you stronger, what’s the reason some analysts want Fisker to fail?

  4. Maybe he read your post on production numbers and realized people who are preordering a 2023 car won’t receive it until mid-2024.

What are your thoughts?