StoneCo price target raised to $21 from $18 at Cantor Fitzgerald

Cantor Fitzgerald raised the firm’s price target on StoneCo to $21 from $18 and keeps an Overweight rating on the shares to reflect management’s new guidance. The stock has significant upside at current levels if management can successfully execute on its stated growth and profitability initiatives, the analyst tells investors in a research note. The firm believes StoneCo is well-positioned to outperform in 2024 given its successful track record and the potential for interest rate easing.