Cowen analyst Jeffrey Osborne initiated coverage of Nikola (NKLA) with an Outperform rating and $79 price target. The truck maker closed Tuesday down $5.20 to $62.93. The analyst sees Nikola as an “intriguing investment opportunity.” The company is leveraging a one truck platform, two power train options and three business segments, with “optionality” in powersports, pickups and autonomous vehicles, Osborne tells investors in a research note. He believes the company’s partner ecosystem “derisks” the ramp in production in 2021. This approach is the opposite of Tesla (TSLA), who builds as much as possible in-house, says Osborne. The analyst believes the June 29 Badger details and reservation opening as a catalyst for the shares.