Vtex initiated with a Hold at Jefferies

Jefferies analyst Antonio Pedro Cardoso initiated coverage of Vtex (VTEX) with a Hold rating and $7.30 price target The company has an “interesting business model” but is fairly priced, the analyst tells investors in a research note. The firm says that although VTEX has growth avenues, its market dominance makes future growth slower, with marginally worse returns. It believes the market overestimates the company’s growth and returns. The stock’s multiple seems attractive versus history, but VTEX’s growth has already decelerated, contends Jefferies.