PicPay price target lowered to $19 from $20 at RBC Capital

RBC Capital lowered the firm’s price target on PicPay (PICS) to $19 from $20 and keeps an Outperform rating on the shares. The firm is fine-tuning its estimates around tax rates, share count, operating expense, and quarterly cadence, the analyst tells investors in a research note. RBC adds that at 8-times expected 2026 earnings, the stock represents a compelling risk reward as PicPay executes on its growing strategy.