Verra Mobility, the Technology sector company, was revisited by a Wall Street analyst yesterday. Analyst James Faucette from Morgan Stanley maintained a Hold rating on the stock and has a $23.00 price target.
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James Faucette’s rating is based on a combination of factors that suggest a balanced outlook for Verra Mobility. While there is potential for a slight upside in the company’s third-quarter Commercial Services revenue, driven by positive TSA data and airline commentary, the overall impact remains modest. The TSA volumes showed a minor increase, which aligns with recent positive domestic trends in the airline industry, yet the company’s management has previously expressed caution regarding travel volumes.
Additionally, the anticipated renewal and expansion of the NYC contract could contribute positively to future estimates. However, the contract details are still pending, and the deal has not been finalized, leading to uncertainty. Given these factors, Faucette maintains a Hold rating, reflecting a cautious but optimistic stance until more definitive information becomes available.
In another report released on October 25, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $25.00 price target.