Morgan Stanley believes Nu Holding is “uniquely positioned” to build one of the largest and most valuable banking franchises in Latin America. The company has “world-class technology, exceptional customer satisfaction, market-leading pricing, and strong unit economics,” the analyst tells investors in a research note. The firm thinks the market is significantly underestimating Nu’s ability to scale profitably. Nu could reach a $100B valuation by the end of 2026, up from $70B today, contends Morgan Stanley.
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