Enovix rises after acquiring Korean battery maker RouteJade
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;))