Nu Holdings price target raised to $12 from $10 at JPMorgan

JPMorgan analyst Yuri Fernandes raised the firm’s price target on Nu Holdings to $12 from $10 and keeps an Overweight rating on the shares. The company reported good Q4 results, the analyst tells investors in a research note. The firm says that while Mexican deposits can be a headwind in the short term, it could become a tailwind in the future. It believes Nu’s loan book should eventually accelerate and the Mexican operation will become more profitable.