UPDATE: JPMorgan Upgrades Arco Platform Ltd. (ARCE) to Overweight

JPMorgan analyst Marcelo Santos upgraded Arco Platform Ltd. (NASDAQ: ARCE) from Neutral to Overweight with a price target of $20.00 (from $21.00).

The analyst comments "We are Overweight on Arco, as we expect the company to show resiliency in face of a tough macro environment, including pricing power despite high inflation in Brazil. In the near term, we expect ACV to expand 26% in the 4Q22-3Q23 cycle. In the longer term, we expect adjusted earnings to grow at a solid pace of 39% CAGR’23-26E."

For an analyst ratings summary and ratings history on Arco Platform Ltd. click here. For more ratings news on Arco Platform Ltd. click here.

Shares of Arco Platform Ltd. closed at $13.25 yesterday.

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