Shift Technologies rises as D.A. Davidson initiates with 'buy'

Shift Technologies

25/01/2021 15:17

** Shares of online used-car retailer  SFT.O  up 3.64% at
$8.54 in early trading
    ** D.A. Davidson initiates coverage of stock with "buy"
rating and PT of $13, implying a ~58% upside to last close
    ** Brokerage sees co as a disruptor, capturing market share
within a broad and fragmented retail vertical
    ** SFT differs from its peers in several ways including a
proprietary at home test drive model, and a focus on the value
segment within the used vehicle market - D.A. Davidson
    ** Brokerage sees a significant top-line growth story and a
path to profitability by 2023
    ** Three of 5 brokerages rate the stock "buy" or higher, 1
"hold" and 1 "strong sell"; their median PT is $18 - Refinitiv
data
    ** Stock fell ~17% in 2020

 (Reporting by Amal S in Bengaluru)
 ((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780;
outside U.S. +91 80 6749 3677;))