Benchmark raised the firm’s price target on Payoneer Global (PAYO) to $10 from $9 and keeps a Buy rating on the shares. Shares have “been on a tear,” rallying by about 65% in the two and a half months since the company posted a Q2 report featuring top- and bottom-line results much stronger than Street estimates and boosts to the midpoints of management’s FY24 guidance ranges in early August, notes the analyst. Ahead of earnings, the firm believes Payoneer is poised to sustain its operating momentum and “thereby provide the fuel for its stock price to take another leg up,” the analyst tells investors in a preview.
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