XP Inc. price target lowered to $19 from $24 at Citi

Citi analyst Gabriel Gusan lowered the firm’s price target on XP Inc. to $19 from $24 and keeps a Buy rating on the shares. The analyst views the Q4 results as "feeble." A sharp deceleration in capital markets activity severely impacted results in Q4, and prospects for Q1 are even worse, the analyst tells investors in a research note. However, the firm continues to like the mid/long-term prospects for XP and still sees considerable market share to be gained from banks.