Pre-Open Movers: Romeo Power, EVO Payments Jump on Buyouts; Boeing Gains as FAA Clears Inspections

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ON Semiconductor (ON) PT Raised to $77 at Jefferies

August 2, 2022 9:23 AM EDT

Jefferies analyst Mark Lipacis raised the price target on ON Semiconductor (NASDAQ: ON) to $77.00 (from $75.00) while maintaining a Buy rating following results.

The analyst commented, "Post 2Q earnings, we continue to favor ON as a top turnaround and SiC play. 2Q... More

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 EDT

JPMorgan 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

Morgan Stanley on Pepsico (PEP): 'Celsius Distribution Agreement a Modest Positive'

August 1, 2022 3:16 PM EDT

Morgan Stanley analyst Dara Mohsenian reiterated an Overweight rating and $198.00 price target on Pepsico (NASDAQ: PEP)

The analyst comments ". PEP this morning announced a long-term agreement with Celsius Holdings (CELH/Not Covered) to distribute CELSIUS fitness/energy drinks in the US. Celsius is a small but fastgrowing company in the better-for-you/active lifestyle segment of energy drinks, with ~3.5% share of the overall US energy drink category,and >200% growth over... More

RBC Capital Offers the 'Industrial logic' on Nikola Corp. (NKLA) Buying Romeo (RMO)

August 1, 2022 12:40 PM EDT

RBC 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