Marti Technologies initiated with a Buy at Roth Capital

Roth Capital analyst Rohit Kulkarni initiated coverage of Marti Technologies (MRT) with a Buy rating and $5.75 price target Marti is the only company in Turkiye that operates a multi-modal shared mobility network including ride-hailing cars, taxis, two-wheelers, mopeds, and e-scooters, the analyst tells investors in a research note. The firm recommends buying the shares ahead of regulatory approval, corporate EBITDA break-even, and subsequent ride-sharing inflection. These are all likely events in the next nine months, contends Roth. The firm says Turkiye is a large, attractive, and untapped market for multi-modal shared mobility.