Nuvei reinstated with a Buy at Goldman Sachs

Goldman Sachs analyst Will Nance reinstated coverage of Nuvei with a Buy rating and $46 price target, implying 26% upside. The shares have been trading at a discount due to 2022 headwinds from its crypto exposure in 2021, the analyst tells investors in a research note. However, the firm believes there is room for Nuvei to accelerate growth on an organic basis excluding crypto.