Cantor Fitzgerald Starts Jumia Technologies (JMIA) at Overweight

Cantor Fitzgerald analyst Deepak Mathivanan initiates coverage on Jumia Technologies (NYSE: JMIA) with a Overweight rating and a price target of $18.00.

The analyst comments: "We are initiating coverage of JMIA with an Overweight rating and $18 price target. Investing in JMIA is a VC style, high-risk / high-reward opportunity in public markets. Africa is the final frontier for eCommerce with penetration currently less than 1/5 of many advanced markets. After a painful transformation over the past three years from a money-losing do-it-all company to a lean and focused eCommerce business, JMIA is now well-positioned to emerge as the Amazon of Africa, in our opinion. The path ahead has plenty of risks, but we think JMIA can deliver strong returns with steady execution over the next decade."

For an analyst ratings summary and ratings history on Jumia Technologies click here. For more ratings news on Jumia Technologies click here.

Shares of Jumia Technologies closed at $10.45 yesterday.

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