Bird Global merger with Bird Canada to provide cash influx, says DA Davidson

DA Davidson analyst Tom White keeps a Neutral rating on Bird Global with a price target of 40c following its announcement on Tuesday morning that it’s pursuing a merger with one of its original platform partners, Bird Canada, along with an estimated total of $32M in new financing. This deal would bolster Bird Global’s uncertain liquidity position while also expanding its presence in North America, White argues. Nonetheless, he remains on the sidelines as he awaits better clarity on how core Bird Global’s growth rate will be impacted following the company’s recent cost cuts, market exits, and ongoing network optimization efforts.