Analyst Mario Pierry of Bank of America Securities reiterated a Hold rating on XP, retaining the price target of $22.00.
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Mario Pierry has given his Hold rating due to a combination of factors including XP’s strategic initiatives and current market conditions. The company’s CEO, Thiago Maffra, outlined key priorities for 2026, focusing on standardizing services provided by Independent Financial Advisors (IFAs), expanding premium services to lower-tier customers, and developing alternative distribution channels. Despite these efforts, the earnings growth is expected to be constrained to 8% due to limited revenue yield improvement and increased investments in the B2C channel.
While the new service framework for IFAs and the development of alternative channels like B2C and wealth services are expected to enhance customer experience and engagement, the overall earnings momentum is anticipated to remain limited in the short to medium term. This is attributed to the elevated rate environment and the necessity for increased investments. Consequently, Pierry maintains a Neutral rating with a price objective of 22.00 USD, reflecting a cautious outlook on the stock’s near-term performance.
Pierry covers the Financial sector, focusing on stocks such as XP, Nu Holdings, and Banco Santander Brasil. According to TipRanks, Pierry has an average return of -1.0% and a 43.55% success rate on recommended stocks.