Marqeta price target lowered to $7 from $8 at Mizuho

Mizuho lowered the firm’s price target on Marqeta (MQ) to $7 from $8 and keeps a Buy rating on the shares. The analyst sees a path to achieving 15%-20% long-term annual profit growth following Block’s (SQ) "pricing reset" in 2024. Marqeta has been focused on obtaining a competitive edge in credit issuing, acquiring critical capabilities with the recent acquisition of Power Finance, the analyst tells investors in a research note. The firm reduced the price target to reflect Marqeta’s guidance and uncertainty regarding the outcome of the Block contract, which is expiring next year.