Citigroup Sticks to Its Buy Rating for XP (XP)

In a report released yesterday, Gabriel Gusan from Citigroup maintained a Buy rating on XP (XPResearch Report), with a price target of $19.00. The company’s shares closed yesterday at $11.92.

According to TipRanks, Gusan is an analyst with an average return of -24.8% and a 0.00% success rate.

Currently, the analyst consensus on XP is a Moderate Buy with an average price target of $18.79, implying a 57.63% upside from current levels. In a report released on March 2, Goldman Sachs also maintained a Buy rating on the stock with a $20.00 price target.

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Based on XP’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.69 billion and a net profit of $911.25 million. In comparison, last year the company earned a revenue of $1.76 billion and had a net profit of $931 million

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XP, Inc. operates as a technology-driven financial services platform. It offers services in Investments, Technology, Career, and Financial Market. Its product platforms include brokerage securities, fixed income securities, mutual and hedge funds, structured products, pension plans and life insurance, wealth management services and other investment products. The company was founded by Guilherme Dias Fernandes Benchimol in 2001 and is headquartered in Vila Olimpia, Brazil.

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