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Henry Khederian

Jumia Technologies (JMIA) Stock Hit A New 52-Week High Today: What's Going On?

JMIA Jumia Jumia Technologies Brad Erickson RBC RBC Capital

Woman.Binoculars.Searching

Jumia Technologies AG – ADR (NYSE:JMIA) shares are trading higher Tuesday morning after RBC Capital analyst Brad Erickson upgraded the stock to Outperform and raised the price target to $15.

What Else: The upgrade follows virtual investor meetings with Jumia’s CEO and CFO, which left RBC “incrementally positive”. Erickson is particularly bullish on the sustained supply benefits Jumia is experiencing from easing foreign exchange pressures.

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