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Fly News Breaks for July 22, 2019
VRRM
Jul 22, 2019 | 06:30 EDT
BofA/Merrill analyst Ryan Cary initiated Verra Mobility with a Neutral rating and a price target of $14.50, citing its "admirable" competitive positioning as a leading provider of technology that simplifies tolling and ticketing for rental car and fleet management as well as its photo enforcement capabilities for local governments. The analyst notes the company has a "highly" recurring business model, but after a year-to-date run-up of 40% in its stock price, Cary believes the risk-reward on Verra Mobility is balanced.
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