Fisker
This is an electric vehicle (EV) trade for investors looking to be in the space with the ability to get some strong share size. Fisker Inc. (NYSE: FSR) develops, manufactures, markets, leases and sells EVs. It is also involved in the asset-light automotive business. In addition, it offers Fisker Flexible Platform Agnostic Design, a process that develops and designs electric vehicles in specific segment sizes.
Earlier this year, 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 at the time that demand was stronger than the company initially expected.
BofA Securities has set its target price at $8, and Fisker stock has a consensus target of $8.86. On Friday, shares traded at $6.15.
Infinera
Some feel this top company would be an outstanding addition to a networking giant as a takeover candidate. Infinera Corp. (NASDAQ: INFN) provides optical transport networking equipment, software and services worldwide.
Its product portfolio includes Infinera Groove series for modular and sled-based platforms to support various transport network applications. The Infinera 7300 series is an SDN-ready coherent optical transport system. The Infinera FlexILS open optical line system connects various Infinera and third-party terminal equipment platforms over long-distance fiber optic cable providing switching, multiplexing, amplification and management channels. Meanwhile, the Infinera 7090 and 7100 series are transport platforms.
The company also offers Infinera XTM series, a packet-optical transport platform that enables metro connectivity solutions. Its Infinera XTC series is a multi-terabit packet optical transport platform that integrates digital OTN switching and optical DWDM transmission. The Infinera mTera series is a network transport solution, while the Infinera XT series is a platform designed to power cloud-scale network services over metro, DCI, long-haul and subsea networks.
In addition, the company provides Infinera Cloud Xpress Family. This is designed to meet the needs of internet content providers (ICPs), communication service providers, internet exchange service providers, enterprises and other large-scale data center operators. And it provides ICE-X Coherent Pluggable Optics, Infinera Transcend software suite, and system software and customer support services. The company serves telecommunications service providers, ICPs, cable providers, wholesale carriers, research and education institutions, large enterprises and government entities. It markets and sells its products and related support services primarily through its direct sales force.
Needham’s $10 target price accompanies a Strong Buy rating. The consensus target is $6.73, and Infinera stock traded on Friday at $3.70.
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