Nuvei reinstated with an Overweight at JPMorgan

JPMorgan reinstated coverage of Nuvei with an Overweight rating and price target of $49, up from $41, following a period of restriction. The analyst says the company’s Paya acquisition reduces its relative exposure to highly discretionary merchant verticals. Nuvei is what every recent fintech initial public offering aspires to be –a "high-growth, profitable company," the analyst tells investors in a research note.