PagBank price target raised to $18 from $17 at Barclays

Barclays analyst John Coffey raised the firm’s price target on PagBank to $18 from $17 and keeps an Overweight rating on the shares. The analyst recommends buying the recent selloff in the shares ahead of the Q1 report. The Street’s Q1 payment volume growth estimate is too low by 500 basis points as PagBank stands to benefit from competitor market share losses, the analyst tells investors in a research note. The firm says stronger sales results and a potential fiscal 2024 guidance raise could lift shares after the print.