Getaround initiated with a Buy at Roth MKM

Roth MKM analyst Darren Aftahi initiated coverage of Getaround with a Buy rating and $1.50 price target. With vehicles parked approximately 95% of the time, Getaround’s 100% digital, frictionless car-sharing technology platform serves as a "springboard capable of maximizing utilization of approximately 1.2B legacy cars," the analyst tells investors in a research note. The firm sees see several catalysts driving growth, including existing market expansion, Uber integration, and the re-introduction of luxury vehicles.