Cantor Fitzgerald downgraded Marti Technologies (MRT) to Neutral from Overweight with a $3 price target after assuming coverage of the name. The recent launch of monetization on Marti’s Ride Hailing business should provide a meaningful revenue contribution in fiscal 2025, but the exact timing and magnitude of the benefit is still uncertain in the face of a historically difficult regulatory environment in Turkey, the analyst tells investors in a research note.
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