Piper Sandler analyst Patrick Moley initiated coverage of Chime (CHYM) with an Overweight rating and $40 price target The firm believes the company is well positioned to further penetrate a large addressable market of nearly 200M Americans making less than $100,000 per year. While this customer cohort may be considered “low quality” by traditional banking standards, Chime’s fee-based servicing approach has created a “high upside” opportunity, the analyst tells investors in a research note.
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Read More on CHYM:
- Chime initiated with an Overweight at Morgan Stanley
- Chime initiated with an Overweight at JPMorgan
- Chime initiated with a Neutral at UBS
- Chime Financial, Inc.: Balancing Growth Potential and Valuation Concerns with a Hold Rating
- Chime Financial: Strong Market Position and Growth Potential Drive Buy Rating