Raymond James lowered the firm’s price target on Via Transportation (VIA) to $19 from $23 and keeps an Outperform rating on the shares following Q1 results. The firm told investors in a research note that it sees reason for optimism driven by the AI Lab division’s long-term potential to expand Via’s existing $82B core served addressable market further in the physical economy by addressing adjacent municipal needs. Raymond James added that its $19 price target could prove conservative given Via Transportation’s “durable” 20%+ growth profile.
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