- Chardan Capital analyst Brian Dobson initiated coverage on Freight Technologies (NASDAQ:FRGT) with a Buy rating and a price target of $2.25.
- The analyst said that the company’s cloud-based solution simplifies the once-complex process of cross-border over-the-road (OTR) shipping.
- In his view, the potential for disruption is in the early stages but offered a similar opportunity relative to ride-sharing services over a decade ago.
- Entering 2022, the FR8App marketplace had amassed more than 2,400 carriers versus a total addressable number of participants estimated to be in the hundreds of thousands, Dobson noted.
- With scalable technology coupled with an estimated $1 trillion North America TAM for freight, the analyst projects adding more participants to the platform will fuel a revenue CAGR of 45% to just under $95 million by 2025.
- By applying 2.5x to the projected 2025 estimated revenue, Dobson arrived at a $2.25 price target or over 7x upside potential.
- Price Action: FRGT shares are trading higher by 135.30% at $0.4866 on the last check Monday.
Can Prison Stocks Break The Shackles And Rally Amid Trump’s Potential Arrest This Tuesday?
Prison stocks are underperforming in the current market recovery, with three major publicly-traded ones trading deep in the red in the year to date. This marks a reversal from 2022, when the stocks notched spectacular gains despite the broader market swoon.
