USA

Jumia: Leaked report on Amazon’s African move is positive for Jumia; Buy

  • Citron Research has speculated about what Amazon's reported move into Sub-Saharan Africa could mean for Jumia

  • Our scenario analysis indicates the US-based tech giant could well opt to buy Jumia, and most likely this year

  • We reiterate our Buy recommendation on Jumia at an unchanged target price of US$11.3, implying 86% upside

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This report is independent investment research as contemplated by COBS 12.2 of the FCA Handbook and is a research recommendation under COBS 12.4 of the FCA Handbook. Where it is not technically a research recommendation because the subject of the research is not listed on any European exchange, it has nevertheless been treated as a research recommendation to ensure consistent treatment of all Tellimer's research. This report has been produced by the analyst(s) named above (the "Analyst").

The Analyst certifies that the views and forecasts expressed in this report accurately reflect their personal views about the subject, securities, or issuers specified herein. In addition, the Analyst certifies that no part of their compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed in this report.

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