UPDATE: Morgan Stanley Starts Nu Holdings (Nubank) (NU) at Overweight
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Morgan Stanley analyst Jorge Kuri initiates coverage on Nu Holdings (Nubank) (NYSE: NU) with a Overweight rating and a price target of $16.00.
The analyst comments "We think the insights from our deep dive into digital banks herein provide strong support for our bullish view on NU. Particularly, our unique work on unit economics and our proprietary AlphaWise consumer survey underscore the power of Nubank's franchise and attractive growth opportunity. We think Nubank can become one of the largest and most profitable banking franchises in Latin America."
Shares of Nu Holdings (Nubank) closed at $9.38 yesterday.
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