Goldman Sachs analyst Tito Labarta initiated coverage of AGI (AGBK) with a Buy rating and $19 price target which offers 81% upside. The firm views AGI as a “niche player” in Brazil’s payroll loan ecosystem. The company benefits from repayments that are typically deducted directly from social security benefits, which supports a “comparatively resilient risk profile versus many retail credit products,” the analyst tells investors in a research note.
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