Deutsche Bank Upgrades Verra Mobility (VRRM) to Buy, 'Recent travel data indicates a resilient environment'

Deutsche Bank analyst Faiza Alwy upgraded Verra Mobility (NASDAQ: VRRM) from Hold to Buy with a price target of $26.00 (from $21.00).

The analyst comments "We are upgrading VRRM to Buy from Hold and raising our PT to $26 (from $21). Recent travel data indicates a resilient environment, and we expect the company to beat revenues this year in its commercial services segment. In government solutions, new legislation around automatic traffic enforcement is gaining traction in a number of U.S. states; we expect this will result in growth rates above the company's targets of +MSD over the next 3-5 years. From a capital allocation perspective, the company has rightly focused on de-leveraging (net debt/LTM EBITDA of 3.1x), de-risking the overall equity story"

For an analyst ratings summary and ratings history on Verra Mobility click here. For more ratings news on Verra Mobility click here.

Shares of Verra Mobility closed at $20.38 yesterday.

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