Barclays Maintains Equal-Weight on StoneCo, Raises Price Target to $12
Portfolio Pulse from Benzinga Newsdesk
Barclays analyst John Coffey has maintained an Equal-Weight rating on StoneCo (NASDAQ:STNE) and increased the price target from $11 to $12.
November 14, 2023 | 1:22 pm
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Barclays has maintained an Equal-Weight rating on StoneCo and raised the price target from $11 to $12, indicating a positive outlook on the stock.
The increase in price target by Barclays reflects a positive adjustment in the valuation of StoneCo by the analyst. While the Equal-Weight rating suggests that the stock is expected to perform in line with the sector or the broader market, the raised price target implies that the analyst sees some upside potential in the stock. This could lead to increased investor confidence and a potential short-term increase in the stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100