RBC Capital raised the firm’s price target on Jumia Technologies (JMIA) to $6.50 from $5 and keeps a Sector Perform rating on the shares. The company’s Q2 print showed improvement with raised guidance and likely raises the prospects of a faster journey to profitability, the analyst tells investors in a research note. Physical order growth improved modestly and appears set to accelerate further, while currency stabilization across most of its geographic footprint has become both a transactional and translational tailwind, the firm added.
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