Navan initiated with a Buy at Rosenblatt

Rosenblatt initiated coverage of Navan (NAVN) with a Buy rating and $30 price target The firm says the company is remaking the way business travel is booked, managed, tracked, and expensed. Navan should “grow rapidly” in the medium-term and expand its operating margins as it scales its customer base and broadens it product penetration, the analyst tells investors in a research note.