Cantor Fitzgerald analyst Josh Siegler lowered the firm’s price target on PagSeguro Digital to $14 from $20 and keeps an Overweight rating on the shares. Siegler expects the merchant acquiring industry to come under pressure in 2023E due to the high inflationary environment and slower consumer spending in Brazil, the analyst tells investors in a research note. After adjusting for a lower take rate and TPV, the firm’s new 2023E revenue estimate of R$17.7M implies ~15% growth.
Published first on TheFly
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