BUZZ-Brazil's StoneCo rise after Citi upgrades to 'buy'

Reuters
23 Apr
BUZZ-Brazil's <a href="https://laohu8.com/S/STNE">StoneCo</a> rise after Citi upgrades to 'buy'

** Brazilian payments firm StoneCo's STNE.O shares rise 7% to $12.90

** Citi Research upgrades STNE to "buy" from "neutral"; raises PT to $15 from $9, a 24.4% upside to stock's last close

** STNE is Citi's 'top pick' in the Brazilian payments sector

** Brokerage says every day STNE is one step closer to be a "small-sized bank" with potential higher returns

** Says STNE's profit could also likely surprise positively given the firm has enough room left from share buybacks

** Citi also expects lower rates for 2026 which could be a tailwind for STNE's results

** 10 of 14 brokerages rate the stock "buy" or higher, three "hold" and one "sell"; median PT $15 - data compiled by LSEG

** As of last close, STNE stock up 51.3% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))

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