Citi analyst Gustavo Schroden maintained a Buy rating on XP yesterday and set a price target of $22.00.
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Gustavo Schroden has given his Buy rating due to a combination of factors that indicate a positive outlook for XP’s stock. The company’s internal investment advisors initiative is progressing as anticipated, with plans to expand further in the coming years. This initiative, along with XP’s comprehensive platform and product offerings, positions the company well to cater to a diverse client base, ranging from low-income to ultra-high-net-worth individuals.
Moreover, XP’s management has taken steps to enhance client service standards, which could improve client satisfaction and retention. Despite a weaker second quarter for debt capital markets, the management anticipates a robust second half, particularly with the upcoming elections in 2026. Additionally, the management’s expectation of a potential bull market could lead to accelerated top-line growth and stronger profit margins due to operating leverage. These factors contribute to an expected share price return of 32.9%, supporting the Buy rating.
In another report released on July 22, TR | OpenAI – 4o also upgraded the stock to a Buy with a $19.00 price target.