DLocal price target raised to $16 from $14 at Susquehanna

Susquehanna raised the firm’s price target on DLocal (DLO) to $16 from $14 and keeps a Positive rating on the shares. The firm noted throughout the quarter that management had targeted 4Q results to come in stronger than 3Q, aided by seasonality in key verticals like e-commerce and advertising, both of which have grown as a percentage of revenue. Intraquarter data suggest strength in multiple countries, such as Argentina and South Africa.