Verra Mobility price target lowered to $20 from $24 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Verra Mobility (VRRM) to $20 from $24 and keeps an Equal Weight rating on the shares. A weaker Q1 was driven primarily by temporary weather impacts while underlying drivers in Government and Commercial segments “remain healthy,” the analyst says. Medium-term margins under pressure from NYC contract and portfolio mix, the analyst added.