Marqeta price target raised to $9 from $8 at Truist

Truist analyst Andrew Jeffrey raised the firm’s price target on Marqeta to $9 from $8 and keeps a Buy rating on the shares. Truist thinks Marqeta has recast its business as a diversified Embedded Finance leader boasting a range of solutions, including Credit, Earned Wage Access, On Demand Delivery, BNPL, and digital banking, the analyst tells investors in a research note. The firm expects TPV will compound at a ~20% five-yr rate as Legacy banking fragments and consumers demand digital solutions.