Roth Capital Partners - Equity Research

Nasdaq-IDEX     "We are introducing a $7.00 price target using a discounted EV/EBITDA methodology. Our 12-month target uses a 30x multiple on 2025E EBITDA of $123 million, discounting back at 12.5% for three years. Our model reflects strong growth in eMobility, while Ideanomics Capital likely generates healthy profits but with much lower growth."

Source: Roth Capital Partners - Equity Research -  April 14, 2021 - Mr. Craig Irwin, Managing Director, Senior Research Analyst at Roth Capital Partners