RBC upgraded the stock to ‘Outperform’ from ‘Sector Perform’ and lifted the price target to $15 from $6.50, citing improved supply conditions and weakening currency pressures.
Jumia Technologies will be issuing over 20.22 million American Depositary Shares turning Wall Street against it. But retail investors believe the firm’s improving metrics and newfound liquidity lays the foundation for better long-term prospects.