Canaccord Genuity starts Rubicon Technologies with 'buy' rating

Rubicon Technology

12/09/2022 12:23

** Brokerage Canaccord Genuity starts coverage of digital
marketplace for waste and recycling Rubicon Technologies Inc
 RBT.N  with "buy" rating and PT of $10 
    ** Brokerage says RBT's digital platform aids in bringing
"much-needed" transparency and data-driven efficiency to the
sector
    ** While macro volatility, near-term EBITDA losses, and the
possible need for additional capital have pressured shares, "we
see a robust runway for growth and expanding margins" -
brokerage 
    ** Canaccord says co's digital marketplace provides waste
generators such as restaurants and retailers with access to
waste haulers, adding both sides of the marketplace benefit from
increased optionality and RBT's proprietary technology stack
    ** Brokerage believes co's platform enables waste generators
to more effectively conduct analyses of their waste and
recycling streams and reduce their costs 
    ** Up to Friday's close, stock had fallen 58.2% this year

 (Reporting by Granth Vanaik in Bengaluru)
 ((Granth.Vanaik@thomsonreuters.com))