Jumia Stock Nabs 2-Year High on New 'Buy' Rating

Benchmark initiated coverage of Jumia Technologies AG - ADR (NYSE:JMIA) today with a "buy" rating and $14 price target, which implies a more than 65% premium to its previous close. The firm noted a demographic transformation that set the e-commerce name as a leader in Africa, and added it is at a point of inflection. JMIA is up 29.8% to trade at$ 10.98 at last check, pacing for its best day since February after earlier surging to a two-year high of $11.20. The shares staged a bounce off the$ 7 region, which ...