KeyBanc raised the firm’s price target on Nu Holdings (NU) to $19 from $15 and keeps an Overweight rating on the shares. The firm notes Nu’s Q3 results were above the Street/its estimates. NPLs improved and net interest margin ticked down quarter-over-quarter, though KeyBanc tends to agree with the emphasis on risk-adjusted net interest margin as this is ultimately a better indicator of credit portfolio management/profitability.
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