JPMorgan upgraded Nu Holdings (NU) to Overweight from Neutral with a price target of $13, down from $14. The firm believes the recent selloff offers a good entry point. Even with more conservative estimates, JPMorgan sees Nu growing earnings over 30% in the next three years, which is says is “something hard to find.” Assuming Brazil is a relative winner in the global trade war, Nubank should also be a relative winner for global and growth investors, the analyst tells investors in a research note.
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