Nu Holdings (Nubank) (NU) PT Raised to $16 at Susquehanna

Susquehanna analyst James Friedman raised the price target on Nu Holdings (Nubank) (NYSE: NU) to $16.00 (from $14.00) while maintaining a Positive rating.

The analyst commented: "After catching up with the company recently, as well as examining results from an SFG commissioned survey in Brazil coupled with industry level BCB data, we conclude that there are many reasons to be optimistic, including: 1) a management team growing ARPAC > New Actives by seizing market share in areas including personal loans and secured lending, 2) replicating the Brazil success now in Mexico and 3) a healthy lending environment in Brazil. We think that NU has the potential to plant "green shoots" via younger app users and argue that lifting ARPAC has become more important to growing revenues than expanding active users. We remain Positive rated, raise our 2025 estimates, and consequently our Price Target follows to $16."

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