Goldman Sachs analyst Tito Labarta upgraded StoneCo to Neutral from Sell with a price target of $11, up from $7.50. The company’s earnings outlook is improving and there is now upside risks to consensus estimates, Labarta tells investors in a research note. The analyst says StoneCo has been able to improve its balance sheet to reduce financial expenses, while focusing on its more profitable clients by reducing exposure to key accounts and also improving margins in software.
Published first on TheFly
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