BUZZ-Paymentus rises as Raymond James lifts rating to ‘strong buy’
Reuters
Feb 20
BUZZ-Paymentus rises as Raymond James lifts rating to ‘strong buy’
** Shares of bill payment tech provider Paymentus PAY.N rise 4.79% to $25.62
** Raymond James upgrades PAY to "strong buy" from "outperform"
** Says, "we believe the recent pullback in the stock (-30% vs. Russell 2000 +13% last 3 months) has created an asymmetric risk/reward"
** Adds, "we anticipate strong 4Q results and see the potential for mid-single digit percent upside to contribution profit $(CP)$ dollars and adj EBITDA"
** Six of eight analysts rate the stock "strong buy" or "buy" and two "hold"; their median PT is $39.13- data compiled by LSEG
** Including session's move, PAY down 21.5% YTD
(Reporting by Pragyan Kalita in Bengaluru)
((Pragyan.Kalita@thomsonreuters.com;))
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