Fisker is also involved in asset-light automotive business. It operates through The White Space, The Value Segment, and The Conservative Premium segments. In addition, the company offers Fisker flexible platform agnostic design, a process that develops and designs electric vehicles in specific segment sizes.
Last week the company announced that it officially started production of the Fisker Ocean all-electric sport utility vehicle in Graz, Austria. Fisker said it expects to see more than 300 units manufactured in the first quarter, 8,000 units in the second quarter and 15,000-plus units in the third quarter. It is targeting 2023 production of 42,400 units. The CEO said recently that demand was stronger than the company initially expected.
Evercore ISI initiated coverage on Fisker stock this week and has a $15 target. The consensus target is $13.44, and shares traded at $7.30 on Friday.
Melco Resorts & Entertainment
This is an inexpensive way to play the casino and gaming business. Melco Resorts & Entertainment Ltd. (NASDAQ: MLCO) owns and operates casino gaming and resort facilities in Asia and Europe.
It owns and operates City of Dreams, an integrated casino resort that has approximately 516 gaming tables and 822 gaming machines, as well as approximately 2,170 hotel rooms, suites and villas; a wet stage performance theater with approximately 2,000 seats; approximately 25 restaurants and bars and 165 retail outlets; and health and fitness clubs, three swimming pools, spa and salons and banquet and meeting facilities.
The company also operates Altira Macau, a casino hotel with approximately 97 gaming tables and 110 gaming machines; 230 hotel rooms; various dining and casual restaurants and recreation and leisure facilities; and various non-gaming amenities, including a spa, gymnasium, outdoor garden podium and sky terrace lounge.
In addition, Melco Resorts operates Studio City, a cinematically-themed integrated entertainment, retail and gaming resort with 293 gaming tables and 947 gaming machines in Cotai, Macau. The company owns and operates eight Mocha Clubs with 1,478 gaming machines, as well as the Grand Dragon casino in Taipa Island, Macau. And it operates and manages City of Dreams Manila, a casino, hotel, retail and entertainment integrated resort in the Entertainment City complex in Manila.
J.P. Morgan has a $10 price target. The consensus target for Melco Resorts & Entertainment stock is $9.02, and shares traded on Friday at $9.00.
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