Brazil's StoneCo rise after Citi upgrades to 'buy'
ReutersApr 22, 2025 6:24 PM
Brazilian payments firm StoneCo's STNE.O shares rise 7% to $12.90
Citi Research upgrades STNE to "buy" from "neutral"; raises PT to $15 from $9, a 24.4% upside to stock's last close
STNE is Citi's 'top pick' in the Brazilian payments sector
Brokerage says every day STNE is one step closer to be a "small-sized bank" with potential higher returns
Says STNE's profit could also likely surprise positively given the firm has enough room left from share buybacks
Citi also expects lower rates for 2026 which could be a tailwind for STNE's results
10 of 14 brokerages rate the stock "buy" or higher, three "hold" and one "sell"; median PT $15 - data compiled by LSEG
As of last close, STNE stock up 51.3% YTD
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