Jefferies upgrades Vtex to Buy on valuation after selloff

Jefferies upgraded Vtex (VTEX) to Buy from Hold with a price target of $6.50, down from $7.30. While the company’s Q2 report raised concerns about its growth outlook, Vtex’s medium- and long-term growth prospects are unchanged, the analyst tells investors in a research note. The firm views the 30% share selloff as overdone. The stock at current levels is undervalued, contends Jefferies.