KeyBanc analyst Josh Beck raised the firm’s price target on Remitly Global to $21 from $15 and keeps an Overweight rating on the shares following stock outperformance year-to-date. The firm remains bullish on the name provided a maturing model characterized by reoccurring, non-discretionary customer activity trading at a still-reasonable valuation considering underlying operating leverage/improving contribution margin and the recent 2023 breakeven+ commitment from management.
Published first on TheFly
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