UBS Downgrades StoneCo to Neutral, Announces $21 Price Target
Portfolio Pulse from Benzinga Newsdesk
UBS analyst Kaio Prato downgraded StoneCo (NASDAQ:STNE) from Buy to Neutral and set a new price target of $21.

February 01, 2024 | 12:49 pm
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UBS downgraded StoneCo from Buy to Neutral and set a $21 price target.
Analyst downgrades typically lead to a negative short-term reaction in the stock price as they suggest a less optimistic outlook on the company's future performance. The downgrade from Buy to Neutral by a major financial institution like UBS indicates a significant shift in expectation, likely leading to decreased investor confidence and a potential decrease in stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100