Equity Analysis /
United States of America

Jumia: Make hay while the sun shines on Africa e-commerce; upgrade to Buy

  • We raise our target price to US$74 (US$26.25 previously) and upgrade our recommendation to Buy from Sell

  • Jumia may become profitable sooner than expected due to strategic adjustments

  • We raise our DCF-based valuation and note that Jumia is cheap relative to its total addressable market

Jumia: Make hay while the sun shines on Africa e-commerce; upgrade to Buy
Nirgunan Tiruchelvam
Nirgunan Tiruchelvam

Head of Consumers Equity Research

Tellimer Research
26 January 2021
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