Nearmap shares crash 21 per cent on US patent suit, page-111

From the MF

James Mickleboro | May 10, 2021 3:36pm

Nearmap Ltd (ASX: NEA)

A note out of Morgan Stanley reveals that its analysts have retained their overweight rating and $3.30 price target on this embattled aerial imagery technology and location data company’s shares. According to the note, the broker doesn’t see legal threats as a risk to its earnings power, only to short term liquidity. Overall, it still feels that the company, and particularly its US business, is being undervalued by the market. As a result, it is happy to hold firm with its overweight rating. The Nearmap share price is trading at $1.80 today.