JPMorgan downgraded Kaspi.kz (KSPI) to Neutral from Overweight with an unchanged price target of $96. The shares have rallied over 20% following the “better than feared” Q2 results, the analyst tells investors in a research note. However, the firm believes Kaspi.kz’s organic growth remains pressured by macro and regulatory headwinds that could persist at least through year-end.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on KSPI: