StoneCo stock rises as UBS upgrades to Buy
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Contributor since / Followers
Contributor since / Followers
4 months ago
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- StoneCo (NASDAQ:STNE) stock was up 2.2% in premarket trade, as UBS upgraded the firm to Buy from Neutral.
- UBS believes the company’s fundamentals continue to improve, supported by the bundle offering with banking.
- “Additionally, the recent underperformance provides an attractive opportunity,” the analysts added.
- The stock was down 31.6% since the start of the year.
- UBS also added it expects the ROE, adjusted by goodwill, to reach 19% in 2025E.
- Earlier in June, the Brazilian payment technology company was upgraded to Overweight from Neutral by J.P. Morgan.
- SA quants rate the company at Hold, while SA analysts rate it at Buy.
- In its first quarter, the company has delivered a weaker-than-expected earnings and revenue.