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Fly News Breaks for March 3, 2020
Mar 3, 2020 | 07:02 EDT
Cantor Fitzgerald analyst Joseph Foresi raised the firm's price target on StoneCo to $49 from $40 and keeps an Overweight rating on the shares. The company reported "strong" results in the quarter and continues to see strength in its end market penetration, Foresi tells investors in a research note. The analyst believes the "Stone Business Model" positions the company to gain market share in the "rapidly evolving" Brazil payment industry.