Why Jumia Technologies Stock Surged 11% Higher Today
A meaty price target raise from an analyst made Jumia Technologies (NYSE: JMIA) stock irresistibly tasty for many market participants on Monday. The e-commerce company's shares rose in excess of 11% across the day's trading session, a rate that was more than good enough to crush the S 500 index with its 0.3% slump.
That rather considerable hike was made by RBC Capital prognosticator Brad Erickson. He shifted his price target upward, to $6.50 per share from his preceding $5. Although not quite a bull, as he continued to rate Jumia stock as only a sector perform (hold), he made several bullish points in his research note detailing the change.
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Source Fool.com
