Goldman Sachs upgraded PagSeguro Digital to Neutral from Sell with a price target of $13.80, up from $7.40. The outlook looks slightly more favorable for Brazil payment stocks, as growth seems to be reaching a positive inflection point, which can lead to further upside risks to earnings, the analyst tells investors in a research note. The firm is taking a more positive stance on the sector with an upgrade of Stone to Buy and PagBank to Neutral. It believes PagSeguro’s revenues have reached an inflection point.
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