2022-03-18 07:40:26 STNE StoneCo
03/18/22 03/1807:40 03/18/2207:40 | Citi upgrades StoneCo to Buy, sees stronger short-term resultsCiti analyst Gabriel Gusan upgraded StoneCo to Buy from Neutral with a price target of $15, down from $18, following the Q4 results. The shares have dropped by 86% over the past year as the company disappointed on its initiatives and there was a strong selloff in global fintech names, Gusan tells investors in a research note. At current levels, the analyst thinks StoneCo's valuation looks attractive. Gusan believes positive trends for the business such as take rate expansion and strong client additions indicate stronger short-term results than the market expects. This was corroborated by StoneCo's guidance for Q1 and "positive message" for 2022, writes Gusan. |
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