UBS analyst Thiago Batista upgraded Nu Holdings (Nubank) (NYSE: NU) from Neutral to Buy with a price target of $17.60 (from $17.20).

The analyst comments: "We upgrade Nu to Buy from Neutral (PT slightly up to US$17.6/share from US$17.2) as we believe the current valuation is attractive given Nu's earnings growth expectations (2026-29E CAGR of ~24%). Currently, the stock is trading at 4.4x P/BV, which is the same levels of Nu back in 2023 (note that Nu more than doubled its earnings since then). We have recently updated our estimates for Nu following the 4Q25 results decreasing a bit our earnings on higher cost of risk and lower efficiency ratio - note that we are below consensus, but we expect Nu to continue reporting growth sustained by the ongoing acceleration of its loan portfolio. The improvement of Mexican operations' results allied with the short term positive impact of higher disposable income of mid income Brazilian families (due to the increase of income tax exemption) should also be catalysts for the stock."

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 $13.97 yesterday.