Nikola Corp. /zigman2/quotes/208704275/composite NKLA -5.84% is "poised to disrupt the transportation industry," analysts at J.P. Morgan said in a note Monday. The analysts started covering the stock at their equivalent of hold with a price target of $45, implying a 31% downside from Monday's share price. The Arizona-based company's business model -- fast deployment of hydrogen infrastructure and fuel cell-powered vehicles for use in long-haul trucking -- could be compelling, but risks are high for a company that hasn't had revenue yet, the analysts said. Moreover, the stock, which has gained nearly 50% in the past three months, is "fully valued" at the moment, they said. "Nikola's market opportunity is immense," with the company estimating the long-haul trucking industry at about $600 billion, including vehicle cost, fuel, service and maintenance relating to an estimated seven million trucks in service.