Much to the delight of its shareholders, the Yojee Ltd (ASX: YOJ) share price was a big mover on Wednesday.
As we approach the market close the logistics and supply chain management company's shares are up almost 17% to 24.5 cents.
What happened?
This morning TMT Analytics initiated coverage on Yojee with a buy rating. Although the research firm has not provided a price target, according to the note its buy ratings imply a potential return in excess of 25% over the next 12 months.
Its analysts believe Yojee stands to benefit greatly from the growing popularity of online shopping in Australia and South East Asia.
This could make Yojee one to watch in 2018.
Elsewhere, the shares of fellow logistics software company WiseTech Global Ltd (ASX: WTC) climbed higher on Wednesday after it announced the acquisition of leading warehouse management solutions provider Microlistics.
