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Fly News Breaks for June 10, 2019
STNE
Jun 10, 2019 | 05:50 EDT
Goldman Sachs analyst Tito Labarta started StoneCo with a Buy rating and $37 price target. The analyst initiated coverage on Brazilian Financials with a cautious outlook on the banks, but a "more optimistic" view for non-bank financials. He thinks StoneCo can continue to grow earnings at a "well-above-average pace." The analyst expects the company to post annual earnings growth of 68% from 2018 to 2021. Stone operates in a market that can continue to grow at a double-digit pace, given the relatively low card penetration in Brazil, Labarta tells investors in a research note.
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