BTIG Starts Mogo Finance Technology (MOGO) at Buy
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BTIG analyst Mark Palmer initiates coverage on Mogo Finance Technology (NASDAQ: MOGO) with a Buy rating and a price target of $13.00.
The analyst commented, "We are initiating coverage of Mogo (MOGO) with a Buy rating and a price target of $13 based on a sum-of-the parts (SOTP) analysis in which we value the company at $8 per share (9x EV/revenue based on the company’s FY23E net revenues) while valuing its stake in cryptocurrency exchange Coinsquare (Private) at $5 per share. We believe MOGO offers an attractive means through which investors can play both the digital disruption of the Canadian financial services industry and the increasing adoption of bitcoin and other cryptocurrencies."
Shares of Mogo Finance Technology closed at $7.20 yesterday.
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