Via Transportation initiated with an Outperform at Citizens JMP

Citizens JMP analyst Patrick Walravens initiated coverage of Via Transportation (VIA) with an Outperform rating and $59 price target The company offers the leading platform to turn “antiquated” public transportation systems into efficient digital networks, the analyst tells investors in a research note. The firm sees positive spending intentions with six out of six customers it spoke to highlighting spend on Via would be up in the next 12 months. Citizens sees a large market opportunity for the company.