CI&T price target raised to $10 from $9 at Canaccord

Canaccord analyst Joseph Vafi raised the firm’s price target on CI&T to $10 from $9 and keeps a Buy rating on the shares. The firm said the company posted a 10% revenue increase in Q3 with an adjusted EBITDA of 19.5%, both metrics improving sequentially. While the macro remains tough, we believe CINT is doing a good job of expanding wallet share with some of its larger customers while also being efficient with employee utilization.