Marti Technologies initiated with an Overweight at Cantor Fitzgerald

Cantor Fitzgerald initiated coverage of Marti Technologies with an Overweight rating and $0.90 price target. An investment in Marti is high-risk, but also potentially high-reward, the analyst tells investors in a research note. Marti has shown success in acquiring market share with its micromobility business, which has resulted in more than 4.5M unique users and gives Marti an advantage when it comes to acquiring riders for its ride-hailing business, the firm says, adding that while it is not generating revenue, its ride-hailing business has quickly gone from zero riders and drivers to more than 380,000 riders and 90,000 drivers as of November 14.