JPMorgan analyst Domingos Falavina upgraded StoneCo to Overweight from Neutral with a price target of $48, up from $43. The upgrade reflects the analyst's reduced cost of equity estimates driven by lower Brazil credit default swaps and the recent correction in the shares. Further, Falavina has "growing optimism" on StoneCo's lending potential. This new revenue stream could "substantially increase economics to Stone," the analyst tells investors in a research note. Falavina believes current clients already being serviced by Stone present an additional 75% of EBT-equivalent upside if the company were able to cross-sell to all its clients. source thefly
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thefly.com/landingPageNews.php?id=3040891
StoneCo Ltd. engages in the provision of financial technology solutions. It caters to merchants and partners that conduct electronic commerce across in-store, online, and mobile channels. It offers cloud-based technology platform, electronic payments, and automation of business processes at the point-of-sale. The company was founded on March 11, 2014 and is headquartered in São Paulo, Brazil
Read more at:
thefly.com/landingPageNews.php?id=3040891
StoneCo Ltd. engages in the provision of financial technology solutions. It caters to merchants and partners that conduct electronic commerce across in-store, online, and mobile channels. It offers cloud-based technology platform, electronic payments, and automation of business processes at the point-of-sale. The company was founded on March 11, 2014 and is headquartered in São Paulo, Brazil
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.