Deutsche Bank Initiates Coverage of Metaverse Play Matterport, Sees Near 50% Upside

Deutsche Bank Initiates Coverage of Metaverse Play Matterport, Sees Near 50% Upside
Deutsche Bank initiated coverage of metaverse play Matterport with a buy rating, calling the company a leader in the digitization of the built world.The bank’s analysts led by Bhavin Shah started coverage on Tuesday with a price target of $14, implying a 46% upside from the recent close.Matterport’s technology platform enables customers to create a digital twin of any space or building with relative ease, and this should drive impressive growth over the foreseeable future, the note said.Strong mindshare, a robust capture services network and a freemium model are meaningful network effects which should accelerate the company’s competitive positioning, the…