- Itaú BBA upgraded XP Inc. (NASDAQ:XP) to Outperform, yet set a price target below its current trading value.
- Analyst sentiment for XP Inc. is mixed, with an average "Moderate Buy" recommendation and varied price targets from different firms.
- XP Inc. stock recently surged, hitting a 52-week high, though some reported trading figures show inconsistencies.
XP Inc. (NASDAQ:XP) operates an online platform for investing and other financial services in Brazil. It competes with banks and other brokerages for customers. Itaú BBA upgrades XP to Outperform from Market Perform, a change that signals a more positive view of the stock. XP trades at $28.15 when the upgrade is posted.
Itaú BBA sets a $22 price target alongside the upgrade. A price target is an analyst’s estimate of where a stock may trade over the next 12 months. Its $22 target is below the reported $28.15 share price, so the rating change and target point in different directions.
Other analysts also have mixed views. As highlighted by Defense World, six brokerages give XP an average “Moderate Buy” recommendation: four rate it a buy and two rate it a hold. Their average 12-month price target is $23.50. Citigroup raises its target from $23 to $25, while UBS lowers its target from $28 to $25; both keep buy ratings.
XP is up $6.65, or 30.93%, at $28.15 in the latest trading figures provided. It trades between $25.84 and $29.00 during the day, with $29.00 matching its 52-week high. As highlighted by Defense World, an earlier report lists a $25.14 high but a $27.49 last trade. Those figures conflict, so the reported high is unclear.
