New Street upgraded DLocal to Buy from Neutral with a price target of $24, up from $18. The combination of revenue growth and EBITDA margin profitability is “compelling” at DLocal, the analyst tells investors in a research note. The firm says that while here is the impact from the devaluation in Q4, this is offset by a very favorable compare in Argentina. It calls DLocal “a much cheaper alternative” than Adyen.
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