PagBank price target lowered to $16 from $19 at Susquehanna

Susquehanna lowered the firm’s price target on PagBank (PAGS) to $16 from $19 and keeps a Positive rating on the shares. The firm said they reported a strong 3Q, with a general beat on TPV, revenue growth, and adjusted net income margins. But the road ahead for acquiring in Brazil is likely to be challenging, given the intense competition and unfavorable trajectory of domestic interest rates, which may compress net take rates.