XP Inc. price target lowered to $20 from $26 at HSBC

HSBC analyst Neha Agarwala lowered the firm’s price target on XP Inc. to $20 from $26 and keeps a Buy rating on the shares. The company’s’ "weak" Q4 results were attributed to a punitive macro environment and tough cost base, the analyst tells investors in a research note. The firm expects XP’s trends to improve during the second half of 2023.