Craig-Hallum bullish on Elauwit Connection, initiates with a Buy

As previously reported, Craig-Hallum initiated coverage of Elauwit Connection (ELWT) with a Buy rating and $12 price target With the team, offering, and market already in place, Elauwit’s IPO now unlocks the full $25B multifamily property TAM, the firm says. Armed with a business model that provides good outcomes for everybody involved, Craig-Hallum expects nice traction with the Network-as-a-Service offering and thus a transformation into a recurring revenue / high margin business. While the company itself is young, the firm sums this to be a unique opportunity where early investors have a great chance to be rewarded as the story plays out.