- Scotiabank analyst Jason Mollin initiated coverage of PagSeguro Digital Ltd (NYSE:PAGS) with an Outperform rating and a $39 price target, implying a 50% upside.
- Mollin rolled out coverage on a trio of Brazilian payments and fintech players, which he noted together represent about 50% of the Brazilian acquiring market’s total payment volume or TPV.
- Given PagSeguro’s business mix with both acquiring and card issuance through PagBank, potential caps on prepaid cards that would hit interchange revenues would be offset by lower interchange fees/costs in the acquiring business, making concerns about a possible cap on the interchange for prepaid cards “overdone.”
- PagSeguro is his top pick among the three payment names just initiated, the analyst noted.
- Price Action: PAGS shares traded higher by 4.95% at $26.06 on the last check Thursday.
U.S. FDA Grants Fast Track designation To Ofra-Vec (VB-111) For Platinum-Resistant Ovarian Cancer
VBL Therapeutics (NASDAQ: VBLT) received Fast Track designation from the U.S. Food and Drug Administration (FDA) for its drug candidate Ofra-Vec (VB-111) in combination with Paclitaxel for the treatment of patients with platinum-resistant ovarian cancer.
