FMP
Inter & Co Earns an Upgrade at Citi
Aug 16, 2023 11:14 PM - Davit Kirakosyan(Last modified: Dec 19, 2023 6:49 PM)
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Citi has raised its rating for Inter & Co (NASDAQ:INTR) from Neutral to Buy and revised its price target for the stock to $5.30, up from $2.00. This adjustment comes as the digital finance platform demonstrates its commitment to achieving a stronger Return on Equity (ROE) through the strategic repricing of its credit portfolio and effective expense management.
According to Citi analysts, the second quarter results of 2023 indicate promising progress in this direction. The potential for further enhancements in Net Interest Margin (NIM) arises from new initiatives and the impact of reduced interest rates. Additionally, there's a possibility of significant improvement in the cost-of-risk aspect due to heightened restrictions on credit card origination.
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