Zipcar's (ZIP -1.5%) first-mover advantage should enable it to benefit from the eventual shift...

|By:, SA News Editor

Zipcar's (ZIP -1.5%) first-mover advantage should enable it to benefit from the eventual shift to car-sharing from car-ownership in urban areas, Cowen's Jim Friedman writes in initiating coverage at Outperform. "While Zipcar’s valuation is high, we believe the long term growth rate and margin expectations implied by the current share price are achievable."