Zipcar (ZIP) tears offs a 7.5% gain after Needham's Kerry Rice initiated coverage in the last...

|By:, SA News Editor

Zipcar (ZIP) tears offs a 7.5% gain after Needham's Kerry Rice initiated coverage in the last hour of active trading yesterday with a Buy rating and a $25 price target. The company - operator of a car sharing network - still sees shares trade over their first-day IPO price in contrast to many other firms debuting in 2011.