Nubank price target lowered to $16 from $17 at BofA

BofA lowered the firm’s price target on Nubank (NU) to $16 from $17 and keeps a Neutral rating on the shares. Quarterly results disappointed for “a second consecutive quarter,” says the analyst, who reduced the firm’s FY26 and FY27 BRL net income estimates by 6% and 9%, respectively, as the firm incorporates the latest results in its model.