Enovix rises after acquiring Korean battery maker RouteJade

Enovix

21/09/2023 11:36

** Shares of battery-maker Enovix  ENVX.O  rise 2.4% to
$12.76 premarket
    ** Co acquires Korean battery maker RouteJade in a
cash-and-stock deal
    ** RouteJade has previously been a supplier to co 
    ** Transaction expected to close in Q4 2023 and be
immediately accretive
    ** Eleven of 12 brokerages rate the stock "buy" or higher,
one "hold;" their median PT is $25 - LSEG data
    ** Up to Wednesday's close, stock had risen 0.2% this year

 (Reporting by Khushi Singh)
 ((Khushi.Singh@thomsonreuters.com;))