UPDATE: New Street Research Upgrades Nu Holdings (Nubank) (NU) to Buy, 'Deposit yields falling sooner than expected'

July 18, 2022 8:20 AM EDT
Get Alerts NU Hot Sheet
Price: $4.46 +0.22%

Rating Summary:
    15 Buy, 6 Hold, 4 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 12 | Down: 16 | New: 15
Join SI Premium – FREE
(Updated - July 18, 2022 8:20 AM EDT)

New Street Research analyst Soomit Datta upgraded Nu Holdings (Nubank) (NYSE: NU) from Neutral to Buy with a price target of $7.00.

The analyst comments "Nubank last week announced a shift in deposits yields. Currently paying 100% of CDI, the Nubank account will now remunerate at this level only after 30 days (and will do so retroactively). At the same time Nubank is expanding its investment platform offering with “Investment boxes”, maintaining – or potentially increasing – yields if customers opt into these Caixinhas. This change will be rolled out across the subs base by September."

For an analyst ratings summary and ratings history on Nu Holdings (Nubank) click here. For more ratings news on Nu Holdings (Nubank) click here.

Shares of Nu Holdings (Nubank) closed at $3.85 yesterday.

You May Also Be Interested In

Related Categories

Analyst Comments, Hot Upgrades, Upgrades