Nikola to buy battery supplier Romeo Power for $144 million
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JPMorgan on Nikola Corp. (NKLA): 'there will likely be near-term margin headwinds from battery pack incentives paid to Romeo'
August 1, 2022 4:37 PM EDTJPMorgan analyst Paul Coster reiterated a Neutral rating and {REMOVEPT} price target on Nikola Corp. (NASDAQ: NKLA).
The analyst comments "Earlier today, Nikola announced plans to acquire Romeo Power (RMO, not covered) in a $144M all-stock deal. The transaction value implies a price of $0.74 per share, or a 34% premium to Romeos share... More
RBC Capital Offers the 'Industrial logic' on Nikola Corp. (NKLA) Buying Romeo (RMO)
August 1, 2022 12:40 PM EDTRBC Capital analyst Joseph Spak reiterated a Sector Perform rating and $8.00 price target on Nikola Corp. (NASDAQ: NKLA).
The analyst comments "Nikola is Romeo's largest production customer, so the transaction vertically integrates operations by bringing battery and BMS engineering capabilities and... More
