Susquehanna Downgrades Kaspi.kz (KSPI) to Neutral, Lowers PT to $87

Group 1 - Joint Stock Company Kaspi.kz (NASDAQ:KSPI) is currently viewed as one of the most profitable new stocks to buy, despite recent downgrades from analysts [1][5] - Susquehanna downgraded Kaspi.kz from Positive to Neutral and reduced its price target from $130 to $87, indicating a shift in market sentiment [1][5] - JPMorgan maintained a Hold rating on Kaspi.kz while lowering its price target from $96 to $88, reflecting concerns over slower fintech sector growth due to macroeconomic factors [2] Group 2 - In Q3 2025, Kaspi.kz reported a 10% increase in overall revenue and a 12% rise in net income, driven by strong performance in its Fintech and Payments segments [3] - Fintech revenue grew by 24%, while Payments experienced an 18% increase in Total Payment Volume, showcasing the company's robust operational performance [3] - The E-grocery business saw a significant 53% surge in GMV, and the advertising sector grew 56% year-over-year, indicating diverse growth avenues for the company [3]