Marqeta upgraded to Buy at BofA on medium-term growth

As previously reported, BofA upgraded Marqeta to Buy from Neutral with a $7 price target as a new analyst took over coverage. The firm sees Marqeta having “an enviable combination” of near-term visibility and longer-term opportunities that could drive attractive medium-term top-line growth of 20%, the analyst tells investors. This opportunity, coupled with the stock’s lagging performance following the company’s investor day, presents “an attractive entry point,” the analyst added.