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Why Romeo Power Stock Is Higher Today

TheMotleyFool

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Shares of Romeo Power (NYSE: RMO), a maker of battery packs for electric commercial vehicles, were trading higher on Thursday. Investors have been bidding up the stock since a Wall Street analyst initiated coverage of the company with a bullish note earlier this week.

As of 11:30 a.m. EST, Romeo Power's shares were up about 11.4% from Wednesday's closing price.

In a note released after the U.S. markets closed on Monday, Cowen analyst Gabe Daoud initiated coverage of Romeo Power with a rating of outperform and a price target of $18.

Source Fool.com

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