Published on 16 Sep 2021 on MarketWatch
Lordstown, Fisker stocks get downgraded as B. of A. cites worries about ‘fierce’ competition
Analysts at B. of A. Securities kept a positive view on the U.S. car industry, but downgraded the stock of two newcomers, Lordstown Motors Corp. and Fisker Inc., saying that competition among auto makers is “fierce.”
The analysts, led by John Murphy, downgraded Lordstown shares to the equivalent of sell, and Fisker shares to the equivalent of hold in a note Thursday. Avis Budget Group Inc. and parts manufacturer Dana Inc. got upgrades to buy.