Seaport Global Downgrades Nuvei to Neutral, Raises Price Target to $34
Portfolio Pulse from Benzinga Newsdesk
Seaport Global analyst Jeff Cantwell downgraded Nuvei (NASDAQ:NVEI) from Buy to Neutral but raised the price target from $29 to $34.

April 02, 2024 | 12:12 pm
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NEUTRAL IMPACT
Nuvei was downgraded by Seaport Global from Buy to Neutral, although its price target was increased from $29 to $34.
The downgrade to Neutral suggests a more cautious outlook on Nuvei's stock by Seaport Global, potentially due to perceived limitations in the stock's upside or emerging risks. However, the increase in the price target from $29 to $34 indicates a positive adjustment in the expected stock value, reflecting perhaps an improved financial performance or market position of Nuvei. The mixed nature of this news (downgrade with a higher price target) might lead to neutral short-term price movement as investors digest both aspects of the analyst's perspective.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100