Nikola Corp. (NKLA) PT Lowered to $1.50 at Deutsche Bank, Lowers Delivery Expectations by Roughly 27%

Deutsche Bank analyst Emmanuel Rosner lowered the price target on Nikola Corp. (NASDAQ: NKLA) to $1.50 (from $2.00) while maintaining a Hold rating.

The analyst comments "Looking ahead to 2025, we lower our delivery expectation to 1.1k units, down from 1.5k, and cut our gross margin expectation to -22% from -8%, leaning on the conservative side pending company execution throughout the course of 2024. We continue to expect the company to only be GM positive in 2026 relative to the company target of being GM positive in 2025, and model closer to breakeven Ebitda in 2026. Altogether, we lower our price target to $1.50 (from $2), still based on a 2.5x our now lowered 2025E sales, discounted back at 10%. Maintain Hold."

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