Paysafe price target raised to $14.60 from $13.40 at BofA

BofA raised the firm’s price target on Paysafe to $14.60 from $13.40 and keeps an Underperform rating on the shares ahead of Q1 earnings. The firm expects Q1 revenues of $409.4M and adjusted EBITDA of $110.5M, in line with consensus, and is raising its blended multiple on 2024 adjusted EBITDA to reflect peer rerating, though it notes that it applies a 50% discount to the merchant acquiring comp group multiple and a 60% discount to the digital wallet comps given Paysafe’s vertical concentration.