RedCloud initiated with a Buy at Roth Capital

Roth Capital initiated coverage of RedCloud (RCT) with a Buy rating and $5 price target RedCloud is a business-to-business e-commerce tech platform that facilitates buying and selling of consumer goods in wholesale in emerging markets, the analyst tells investors in a research note. The firm says the company presents a “highly asymmetric long-term investment opportunity” to capitalize on secular growth in Africa and Latin America. It sees “significant” product footprint expansion, artificial intelligence adoption, and financial inflection catalysts ahead.