Morgan Stanley raised the firm’s price target on PagBank (PAGS) to $7 from $5 and keeps an Underweight rating on the shares. The firm updated the company’s estimates to reflect the Q2 report and new long-term guidance. Morgan Stanley’s long-term estimates remain well below PagBank’s guidance. It believes the company’s execution risk is high given limited visibility into its underwriting standards, capital deployment and competitive positioning.
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