Verra Mobility initiated with a Neutral at JPMorgan

JPMorgan initiated coverage of Verra Mobility (VRRM) with a Neutral rating and $25 price target representing 17% upside potential. The company offers market leadership and stable recurring revenue, but faces risks such as customer concentration and regulatory changes, the analyst tells investors in a research note. JPMorgan views Verra’s long-term fundamentals as attractive, but it sees a balanced risk/reward and awaits a better entry point.