Nikola garbage truck deal is early 'validation' for the company, says Deutsche Bank

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Nikola Motor Company
Source: Nikola Motor Company

Nikola's announcement that it will provide at least 2,500 all-electric refuse trucks for Republic Services is "providing early elements of validation" for the newly public electric vehicle maker, Deutsche Bank said Tuesday.

In a note to clients the firm re-iterated its short-term catalyst call buy rating on shares, saying the company is likely to announce additional key milestones and partnerships over the coming months.