Remitly Global price target raised to $30 from $29 at Monness Crespi

Monness Crespi analyst Gus Gala raised the firm’s price target on Remitly Global to $30 from $29 and keeps a Buy rating on the shares. The Q2 report confirms the “customer acquisition engine has not gone flat,” though it is cyclical, the analyst tells investors. The analyst, who raised estimates and sees a path to GAAP profitability by calendar year 2025, thinks Remitly shares remain undervalued.