Rekor Systems initiated with an Outperform at William Blair

William Blair initiated coverage of Rekor Systems with an Outperform rating. Rekor was founded in 2018 and offers a software platform that ingests mobility data to deliver analytics on roadway safety, traffic flows, and license plate information, effectively creating a digital operating system for roadways, the analyst tells investors in a research note. The firm says the lack of investment in modern infrastructure, need for safety improvements, and sustainability initiatives will all provide multiyear demand tailwinds for Rekor. f management can execute, Blair anticipates, at a minimum, “several turns of upside to the multiple.” When compounded with the company’s 30% plus growth, this could result in a more than doubling of the stock price over the next two years, the firm contends.