Wejo rises after Wedbush initiates coverage with 'outperform'

Wejo

21/12/2021 17:16

** U.K.-based connected vehicle data analytics firm's shares
 WEJO.O  up 8% at $5.68
    ** Brokerage Wedbush initiates coverage with "outperform"
rating, sets PT at $10
    ** Wedbush believes WEJO will be a major player in the
connected vehicle data market in both consumer and commercial
segments
    ** With current connected vehicles numbers globally being at
225 mln and expectations to grow to 600 mln by 2030, we believe
WEJO is well-positioned to benefit from new generation of EVs -
Wedbush
    ** Up to Monday's close, stock fell ~64% since completing
SPAC merger on Nov. 18

 (Reporting by Akash Sriram in Bengaluru)
 ((Akash.Sriram@thomsonreuters.com;))