Cantor Fitzgerald Assumes Root, Inc. (ROOT) at Overweight, $21 PT
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(Updated - May 3, 2021 5:12 PM EDT)
Cantor Fitzgerald analyst Josh Siegler assumes coverage on Root, Inc. (NASDAQ: ROOT) with an Overweight rating and a price target of $21.00.
Siegler sees a large TAM for ROOT and calls it a 'disruptor' in the antiquated auto insurance market.
The analyst sees the 60% decline from the October IPO high as providing an attractive entry point.
Shares of Root, Inc. closed at $10.77 yesterday.
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