Morgan Stanley upgraded XP Inc. (XP) to Overweight from Equal Weight with a price target of $24, up from $18 as part of a broader research note on Brazil Financial Institutions. The stock offers leveraged exposure to rising equity trading volumes and capital markets recovery, the analyst tells investors in a research note. XP also stands to benefit from two key effects of falling rates – portfolio rotation and renewed investor confidence, the firm added.
Confident Investing Starts Here:
- Quickly and easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on XP: