Paysafe initiated with a Buy at BTIG

BTIG initiated coverage of Paysafe with a Buy rating and $19 price target. The market is pricing the stock as if there is only a slim possibility of the company reducing leverage and maintaining an attractive growth profile, the analyst tells investors in a research note. The firm thinks the market is missing that management has a plan in place, is executing on the plan, and that even at 4% gross profit growth over the next two years Paysafe should be able to reduce net leverage.