Morgan Stanley analyst Jorge Kuri downgraded PagSeguro Digital (PAGS) to Equal Weight from Overweight with a price target of $15, down from $30. Interest rates look set to remain elevated in 2023 and 2024, which will have a negative impact on TPV growth and funding costs and pressure earnings and profitability at both StoneCo (STNE) and PagSeguro, argues Kuri.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on PAGS:
- PagSeguro Digital downgraded to Sell from Neutral at Goldman Sachs
- PagSeguro Digital downgraded to Neutral from Overweight at JPMorgan
- PagSeguro Shares (NYSE:PAGS) Plunge after Earnings Report
- PagSeguro Digital options imply 5.8% move in share price post-earnings
- Largest borrow rate increases among liquid names