Bradesco BBI Starts XP Inc. (XP) at Neutral
- Futures rise ahead of weekly jobless claims data
- Moderna (MRNA) Tops Q2 Street Estimates, Nabs $4.2 Billion from 199 Million Sold Vaccines That Yielded 93% Efficacy Through Six Months
- Oil rises on Mideast tensions but virus concerns weigh
- Roku (ROKU) Falls Sharply on Significant Slowdown in Streaming Views, Analysts Divided
- Dollar holds gains after Fed comments, sterling ticks up after BoE
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
Bradesco BBI analyst Otavio Tanganelli initiates coverage on XP Inc. (NASDAQ: XP) with a Neutral rating and a price target of $59.00.
The analyst comments "Initiating coverage on XP Inc. with an Outperform rating and a US $59 TP YE22, implying 28% upside from current levels. XP is a leading investment platform that provides financial products and services in Brazil.
We believe XP’s earnings momentum should remain strong in the coming years, in light of the favorable market tailwinds and it is our preferred pick in the investment platforms space, due to its scale, growth potential, and
profitability. XP is exposed to the high-growth retail investment segment in Brazil that has been expanding significantly
in recent years – attributable to greater financial education and a low interest rate environment, which have both led
investors to search for more sophisticated investment products. The retail market has grown at 12% CAGR in the
past 5 years and we expect this to accelerate to 13-14% in the next 5 years on the back of greater financial deepening."
Shares of XP Inc. closed at $45.96 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Jack In The Box (JACK) PT Lowered to $112 at UBS on Inflationary Pressures
- Titan Company (TTAN:IN) PT Raised to INR1,980 at HSBC
- UPDATE: Benchmark Assumes Qorvo Inc (QRVO) at Buy
Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!