Jumia Technologies Surges 22% on RBC Price Target Boost

Shares of Jumia Technologies, the African e-commerce leader, soared 22.3% during Tuesday's trading session following a bullish analyst note. RBC Capital Markets nearly tripled its price target on the stock, lifting it from $6.50 to $15 per share—a MOVE that signals renewed confidence in the company's turnaround prospects.

The upward revision stems from management's optimistic outlook during recent discussions with RBC analyst Brad Erickson. Jumia executives highlighted easing currency pressures across its African markets and improved bargaining power with Chinese sellers. These developments could drive take-rate expansion by 50-100 basis points annually while reducing fulfillment costs.

While still operating at an EBITDA loss, Jumia's path to profitability appears clearer. The market rewarded this potential inflection point with aggressive buying, though shares remain below RBC's new target price at approximately $12.