New Street analyst Soomit Datta downgraded DLocal to Neutral from Buy with a $25 price target. The analyst sees DLocal as "theoretically cheap" following uncertainty stemming from allegations of fraud by a short seller. The company’s informal response has been "pretty robust" but the lack of a public statement is surprising, Datta tells investors in a research note. The analyst downgraded the shares after raising his risk discount.
Published first on TheFly
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