Brazil's StoneCo rises as brokerages lift PT

StoneCo

16/11/2023 13:51

** Shares of Brazilian fintech company StoneCo  STNE.O  rise
~1% to $13.7 premarket
    ** Morgan Stanley lifts PT to $15 from $13, Susquehanna
raises PT to $23 from $20
    ** Brokerage BofA Global Research upgrades rating to "buy"
from "neutral", raises PT to $17 from $13
    ** "Upgrade to Buy on increased earnings estimates" - BofA
    ** StoneCo sees profit multiplying eightfold by 2027, CEO
Pedro Zinner told Reuters on Wednesday in an interview
    ** "Expect share performance over the next months to be
supported by rising consensus forecasts", says BofA Global
Research
    ** Eight of 16 brokerages rate the stock "buy" or higher,
six "hold" and two "sell" or lower; their median PT is $15.50 -
LSEG data
    ** Up to last close, STNE up 43.64% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)