Analysts at Citi have retained their buy rating but trimmed the price target on this aerial imagery technology and location data company’s shares to $4.05. According to the note,the broker doesn’t appear concerned by Nearmap’s growing competition and increasing investment. It believes the company’s recent guidance was strong and expects its investment in marketing and product development to underpin strong sales growth over the medium term. I think Citi is spot on and would be a buyer of Nearmap’s shares.
