Cantor Fitzgerald analyst Deepak Mathivanan lowered the firm’s price target on Jumia Technologies (JMIA) to $16 from $18 and keeps an Overweight rating on the shares. The firm’s long-term bullish thesis remains intact following Jumia’s Q4 report, and tells investors in a research note that there should be healthy growth rates in the near-term. Cantor sees “plenty” of runway for the company to further penetrate the African ecommerce market.
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