Navan initiated with a Buy at BofA

As previously reported, BofA analyst Nafeesa Gupta initiated coverage of Navan (NAVN) with a Buy rating and $17 price target citing the strong growth of its AI-led platform integrating corporate travel, expense and payments. Its virtual service assistant Ava and conversational booking agent Navan Edge stand out versus traditional corporate travel companies and Navan is gaining share with enterprise wins and AI-native customers in a growing market, the analyst tells investors.