Mizuho initiated coverage of PicPay (PICS) with an Outperform rating and $30 price target The firm says PicPay is a Brazilian fintech positioned to “compound growth” as payments, banking, and credit migrate to mobile-first platforms. PicPay is Brazil’s second-largest digital bank and the seventh-largest financial institution, giving it “meaningful distribution leverage” in Latin America’s largest economy, the analyst tells investors in a research note.
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