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Fly News Breaks for August 22, 2019
JMIA
Aug 22, 2019 | 08:47 EDT
Raymond James analyst Aaron Kessler lowered his price target for Jumia Technologies to $23 from $36 but maintained an Outperform rating following the company's "mixed" second quarter results. In a research note to investors, Kessler says that while results were softer than anticipated, he maintains a positive outlook on shares and expects robust eCommerce growth in Africa. He also feels Jumia has significant potential beyond its core marketplaces including payments and other services.
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