New Street analyst Soomit Datta upgraded PagSeguro Digital to Buy from Neutral with a price target of $17, down from $22. The company calls PagSeguro the cheapest payment company in the world. The estimate reductions post the Q3 results "should bring to a halt the multi quarter/year downgrade cycle, bringing stability" before falling Selic interest rates drive the company’s earnings up, Datta tells investors in a research note. The analyst believes sentiment on the stock "can’t have ever been lower," and sees close to 100% upside in the shares.
Published first on TheFly
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Read More on PAGS:
- PagSeguro Digital upgraded to Buy from Neutral at New Street
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- PagSeguro Digital downgraded to Equal Weight from Overweight at Morgan Stanley
- PagSeguro Digital downgraded to Sell from Neutral at Goldman Sachs