Verra Mobility upgraded to Buy on positive tailwinds at Deutsche Bank

Deutsche Bank upgraded Verra Mobility to Buy from Hold with a price target of $26, up from $21. Recent travel data indicates a resilient environment, and Verra should beat revenue estimates this year in its commercial services segment, the analyst tells investors in a research note. In government solutions, new legislation around automatic traffic enforcement is gaining traction in a number of U.S. states, which should result in growth rates above the company’s targets of mid-single-digits over the next 3-5 years, says the firm. It sees a favorable risk/reward and valuation as supportive at current share levels.