Inter&Co upgraded to Overweight from Neutral at JPMorgan

JPMorgan upgraded Inter&Co to Overweight from Neutral with a price target of $8.50, up from $7.50. The analyst believes the recent weakness offers a good entry point for the shares. The firm expects Inter&Co to continue improving profitability, driven by ongoing risk-adjusted net interest income expansion and operating leverage, with revenues growing at a 28% annually through 2026. In addition, potential lower taxes and higher leverage could also be tailwinds for higher return on equity, contends JPMorgan.