Remitly Global price target raised to $35 from $30 at Monness Crespi

Monness Crespi raised the firm’s price target on Remitly Global (RELY) to $35 from $30 and keeps a Buy rating on the shares. The firm says expectations are “clearly high” into the company’s Q4 report, with shares having rallied over 60% intra-quarter. However, “major swings” to the shares are “largely de-risked,” owing to the already offered 2025 framework on the Q3 earnings call, the analyst tells investors in a research note. Monness expects “fairly steady” volume and revenue performance in Q4 from Remitly.