Ladenburg Thalman Upgrades HyreCar to Buy

Posted on January 29, 2021 by Brad Steveson

Ladenburg Thalmann analyst Jon Hickman upgraded HyreCar to Buy from Neutral with a price target of $17, up from $7.50, after the company announced a partnership with AmeriDrive Holdings and Cogent Bank. I wrote a short piece yesterday about this partnership here.

HYRE hosted a corporate update call yesterday after the market close where CEO Joe Furnari projected this partnership would allow AmeriDrive the ability to place roughly 6,000 vehicles on the HyreCar platform through the end of 2021.

The stock closed Thursday up 29% to $9.41 and has traded as high as $10.99 so far this morning.

Disclosure: I am long and I may buy or sell shares within the next 72 hours.

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