Nuvei price target lowered to $29 from $42 at RBC Capital

RBC Capital analyst Paul Treiber lowered the firm’s price target on Nuvei to $29 from $42 but keeps an Outperform rating on the shares. The company’s outlook for the second half was materially reduced given longer lag times in converting new larger clients and its decision to exit a relationship with a large client, the analyst tells investors in a research note. The firm warns that Nuvei will need to rebuild trust.