By Michael Dabaie
PagSeguro Digital Ltd. shares were up 9% to $30.69 in morning trading.
KeyBanc Capital Markets raised it price target on the Brazil-based financial technology company to $32 a share from $20 to factor in digital acceleration prospects and it looks for greater clarity on the PagBank app and online acceleration.
KeyBanc said indicators for PagBank show significant year-to-date gains, though associated download and usage conversion remain unknown.
KeyBanc rates the stock to overweight.
Write to Michael Dabaie at michael.dabaie@wsj.com