Analyst Gabriel Gusan upgraded the company to buy from neutral with a price target of $13 per share. That target represents 40% upside.
Brazilian digital payments company StoneCo could yield some big gains for investors, according to Citi. Analyst Gabriel Gusan upgraded the company to buy from neutral with a price target of $13 per share. That target represents 40% upside from the stock's last closing price of $9.18 per share. He said the firm could get a boost as interest rates come down in Brazil.
StoneCo shares are down more than 2% in 2023. The stock has gotten crushed the last two years. In 2022, it dropped 44% as growth and tech names languished. In 2021, StoneCo fell a whopping 79.9%. However, the analyst thinks the company is due for a turnaround. He noted that this year could see StoneCo turn toward profitability, "as client mix, prepayment repricing, scalation of the software business and credit product help boost bottom line and margins.
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