DLocal price target lowered to $15 from $30 at JPMorgan

JPMorgan analyst Domingos Falavina lowered the firm’s price target on DLocal to $15 from $30 and keeps a Neutral rating on the shares post the Q3 results. The analyst believes investors are still uncomfortable with the company’s lack of detailed written response to the short seller allegations as well as the lack of a buyback announcement. Additionally, governance and overall ESG concerns were also raised by investors given DLocal’s and management’s relationships with AstroPay, and related party transactions, Falavina tells investors in a research note. Investors "will require higher equity returns in light of those risks."