Via Transportation initiated with a Buy at Needham

Needham analyst Scott Berg initiated coverage of Via Transportation (VIA) with a Buy rating and $55 price target The firm says the company has quickly positioned itself as the market leader in global transit technology. Via has a “best-in-class” product in a $50B total addressable market with a consistent customer expansion opportunity and low cost of customer acquisition, the analyst tells investors in a research note. Needham calls Via a “top tier fundamental idea.”