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Fly News Breaks for November 22, 2019
Nov 22, 2019 | 06:47 EDT
Cantor Fitzgerald analyst Joseph Foresi raised his price target for StoneCo to $40 from $39 saying the company reported "strong" Q3 results. StoneCo continues to see strength in its end market penetration, contends Foresi, who maintains an Overweight rating on the shares. He believes the company is positioned to gain market share in the "rapidly evolving" Brazil payment industry.