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Morgan Stanley reiterated an Equal-Weight rating and $3.00 price target on Nikola Corp (NASDAQ:NKLA) following the announced retirement of the company’s CFO, Kim Brady Monday evening after market close.
The company also announced the elevation of Anastasiya “Stasy” Pasterick to the CFO role. Pasterick was currently serving as VP and Corporate Controller at the company. In role, Ms. Pasterick helped execute the SPAC merger and has been responsible for the overall financial operations of the company, including accounting, reporting, transactional finance and manufacturing finance.
Pasterick established NKLA’s accounting and reporting infrastructure and has been an active participant in the company’s efforts to scale its financial operations through entering commercial production. Mr. Brady will remain with Nikola through April as a non-executive officer to assist with the transition.
Analysts wrote in a note, “Our conversation with the company following the announcement re-affirmed NKLA’s and the management team’s commitment to accountability, transparency, and a focus on operational execution – and so we view yesterday’s announcements as supportive of these efforts.”
Shares of NKLA are down 0.10% in pre-market trading on Tuesday.
