DLocal price target lowered to $17 from $17.50 at JPMorgan

JPMorgan lowered the firm’s price target on DLocal to $17 from $17.50 and keeps a Neutral rating on the shares following a change in analysts. The firm likes DLocal’s long-term growth drivers but expects the short-term “to remain bumpy.” The analyst expects some volatility in Q1 with currency devaluation in select countries, like Egypt, Nigeria, and Argentina, potentially drying up liquidity on the currency market. Additionally, inflation adjustments are expected to persist as Argentina inflation accelerates into the first half of 2024, the analyst tells investors in a research note.