Nuvei price target raised to $34 from $29 at RBC Capital

RBC Capital raised the firm’s price target on Nuvei to $34 from $29 and keeps an Outperform rating on the shares. The company’s Q4 results were slightly above expectations, with positive momentum in the business continuing and in some categories accelerating, the analyst tells investors in a research note. The firm is cutting its FY24 EPS view to $1.88 from $2.02 to reflect “conservative” guidance, but adds that its increased price target reflects rolled valuation framework to FY25.