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Fly News Breaks for November 13, 2019
JMIA
Nov 13, 2019 | 08:43 EDT
Raymond James analyst Aaron Kessler lowered his price target for Jumia Technologies to $8 from $23 following lower than expected Q3 results. While disappointed with the weaker than expected GMV growth outlook, Kessler tells investors in a research note that he believes Jumia is taking the right strategic steps to better position the company for more sustainable and profitable growth. He keeps an Outperform rating on the shares.
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