Barclays Maintains Equal-Weight on StoneCo, Lowers Price Target to $17
Portfolio Pulse from Benzinga Newsdesk
Barclays analyst John Coffey maintains an Equal-Weight rating on StoneCo (NASDAQ:STNE) and lowers the price target from $18 to $17.
April 29, 2024 | 3:52 pm
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Barclays maintains an Equal-Weight rating on StoneCo and lowers the price target from $18 to $17.
The reduction in price target by Barclays, a major financial institution, could lead to a negative short-term sentiment among investors, potentially causing a decrease in StoneCo's stock price. The Equal-Weight rating suggests that the analyst views the company as adequately valued at its current price, but the lowered price target indicates a revision of the expected future stock performance.
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