DLocal upgraded to Buy from Hold at HSBC

HSBC upgraded DLocal (DLO) to Buy from Hold with a price target of $15, up from $11.50. The company reported a big EBIT beat and continued strong volumes while improving its disclosures over the past year, the analyst tells investors in a research note. The firm believes DLocal’s more consistent performance recently is key for regaining market confidence. The company has shown better than expected cost control despite continued investments in personnel and technology, adds HSBC.