Marqeta's stock is now a buy as it sits in an ‘enviable' spot, BofA says

Marqeta Inc. shares powered 5.7% higher Monday as the card-issuing name found a new fan on Wall Street. BofA’s Cassie Chan upgraded the stock to buy from neutral earlier in the day, saying that Marqeta MQ, +5.72% boasts the “enviable combination” of near-term visibility into its financials and emerging opportunities that could help spur 20% growth over the medium term. Chan noted that customers representing 75% of Marqeta’s total payment volume renewed deals between the second quarter of 2022 and the third ...