UPDATE: Goldman Sachs Starts Latch Inc (LTCH) at Buy

Goldman Sachs analyst Rod Hall initiates coverage on Latch Inc (NASDAQ: LTCH) with a Buy rating and a price target of $18.00.

The analyst comments "We believe Latch has a solid technology offering with a strong customer roster and large market opportunity. Latch has shown strong traction in the new builds market and is well positioned to gain penetration in the much larger retrofits market. Additionally, we see upselling opportunities through app engagement, while CY'21 guidance looks conservative to us given bookings and the likely timeline for conversion to revenue. We also note that re-opening could accelerate revenue conversion as COVID slowed completion of construction projects."

For an analyst ratings summary and ratings history on Latch Inc click here. For more ratings news on Latch Inc click here.

Shares of Latch Inc closed at $12.29 yesterday.

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