Berenberg upgrades Jumia (NYSE:JMIA) from Hold to Buy with a $45 PT, implying a 69% upside.
Raymond James boosts JMIA from Market Perform to Outperform with a $36 PT, a 35% upside.
The upgrades follow yesterday's Q1 report, which was the first print since the IPO.
JMIA shares are up 6% pre-market to $28.20.
Previously: Stifel becomes Jumia's first bull (May 13)
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