Jefferies has upgraded its price target on Wise PLC (LSE:WISE) while maintaining a cautious hold rating on the FTSE 250-listed cross-border payments company.
Analysts stated that Wise’s “healthy momentum” in net interest income (NII) continues to make up for lower total payment volumes, “while easier comparatives should provide some stabilisation”.
However, Jefferies noted headwinds of low visibility around peak NII and a reacceleration of payment volumes, combined with lagging growth in Europe and strong internal hiring.
As such, Wise shares remain a 'hold' for now, though the price target was increased from 686p to 706p.