Citi raised the firm’s price target on PagBank to $16 from $13 and keeps a Buy rating on the shares. The firm sees short-term trends for the payments industry as the most favorable within its non-banks coverage, which it expects will attract investor attention. The combination of strong payment volume growth, take rate stability and lighter financial expenses should help boost PagBank’s earnings in 2024, the analyst tells investors in a research note.
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