tiprankstipranks

Remitly Global downgraded to Peer Perform from Outperform at Wolfe Research

Wolfe Research analyst Darrin Peller downgraded Remitly Global to Peer Perform from Outperform without a price target. The company’s valuation is now inline with peers and reflective of its strong fundamentals, the analyst tells investors in a research note. The firm remains "encouraged" by Remitly’s focus on more profitable growth in 2023, but after a 45% rally year-to-date, it is moving to the sidelines. It sees a fair value range of $15 to $20 per share.

Published first on TheFly

See Insiders’ Hot Stocks on TipRanks >>

Read More on RELY:

Disclaimer & DisclosureReport an Issue