• Sun. Jan 29th, 2023

Freight Technologies Shoot Up After Chardan Capital’s Bullish Rating – Freight Technologies (NASDAQ:FRGT)

ByShivani Kumaresan

Nov 14, 2022
Freight Technologies Shoot Up After Chardan Capital's Bullish Rating - Freight Technologies (NASDAQ:FRGT)

  • Chardan Capital analyst Brian Dobson initiated coverage on Freight Technologies 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.



Image and article originally from www.benzinga.com. Read the original article here.