PagSeguro Digital downgraded to Neutral from Outperform at Credit Suisse

Credit Suisse analyst Daniel Federle downgraded PagSeguro Digital to Neutral from Outperform with a price target of $11, down from $21. The acquiring industry has reported a deceleration in payment volume over the past quarters due to slower economic growth, lower inflation and a restrict credit market, Federle tells investors in a research note. The analyst does not expect changes in these dynamics shortly and downgraded PagSeguro to reflect slower growth.