- 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.
Will Apple’s Vision Pro Give Goldman Sachs A Headache? Mark Gurman Does The ‘$1B Loan’ Math
Tech analyst Mark Gurman humorously predicts a significant financial impact on Goldman Sachs if Apple Card users choose installment plans for the new Apple Vision Pro headset.
