© Reuters Why Shares of PayPal Rival Payoneer (PAYO) are Buying and selling Larger As we speak
By Senad Karaahmetovic
Payoneer World (NASDAQ:) shares are buying and selling greater than 6% increased right this moment on information the corporate shall be added to the S&P SmallCap 600 index on October 12.
Payoneer will exchange Lantheus (NASDAQ:), which is being transferred to the , which in flip is changing Targa Assets (NYSE:) which can be part of the .
Firms which are being added to S&P indexes are likely to see their shares commerce increased upon the announcement of their inclusion. This manner, shares of those firms acquire increased publicity, on condition that S&P indexes are extensively tracked by institutional buyers.
As for Payoneer, Goldman Sachs analysts lately reiterated a Purchase score on shares after assembly the corporate’s administration. The analysts have an $8.50 per share worth goal on PAYO shares.
“[Management] sees robust momentum of their core enterprise, feels assured about their capacity to execute and handle via numerous macro headwinds within the enterprise, and can be nicely positioned to profit from increased rates of interest and increasing margins within the coming quarters,” the analysts wrote in a shopper word.
Originally published at Irvine News HQ
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