UBS downgraded Verra Mobility to Neutral from Buy with a price target of $4, down from $23. The firm cites the "material reduction" in Verra's revenue and profit outlook following the Avis Budget contract termination for the downgrade. UBS now sees increased uncertainty around the company's other major contract renewals in its commercial service segment in 2027. The firm is cautious on Verra's 2028 and beyond outlook on the uncertainty with upcoming contract renewals.
