KBW analyst Sanjay Sakhrani upgraded the rating on Payoneer (PAYO – Research Report) to a Buy today, setting a price target of $9.00.
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Sanjay Sakhrani has given his Buy rating due to a combination of factors that suggest a favorable outlook for Payoneer. One of the primary reasons is the recent US-China tariff deal, which is expected to positively impact the company’s performance. This agreement could lead to a more favorable risk/reward scenario, increasing the potential for upside in Payoneer’s stock.
Furthermore, the consensus estimates may not fully account for the benefits arising from this deal, indicating that there could be room for upward revisions in future projections. Given these considerations, Sakhrani believes that Payoneer is well-positioned to outperform expectations, justifying the upgrade to a Buy rating.
In another report released on May 8, Needham also maintained a Buy rating on the stock with a $8.00 price target.