Goldman Sachs analyst Tito Labarta upgraded PagSeguro Digital Ltd (NYSE:PAGS) to Neutral from Sell and increased the price target to $13.8 from $7.40. Labarta forecasts low double-digit TPV growth throughout 2024, improved revenue growth quarter-over-quarter, and a stabilization of net margin due to declining interest rates. The analyst expects higher loan book and deposit base growth, but with caution on unsecured credit. Despite concerns over declining take rates due to lower interest rates and competition, the outlook for Brazil's Payment Technology sector is slightly more favorable. Labarta predicts Q4 FY23 recurring earnings of R$487 million and TPV of R$104.8 billion, both exceeding consensus. PAGS shares rose 0.95% to $12.72.