Movement Alert｜XP Inc. Rises 5.03% in Regular Trading, UBS Lifts Target Price to $37

Market Focus10-09

On October 9, XP Inc. rose 5.03% in regular trading, trading at $31.715 per share, with turnover of $98.42 million.

The catalyst was UBS raising its target price on XP to $37 from $25 while maintaining a Buy rating on October 8, a level more than 37% above the FactSet consensus average of $26.95. This followed Itau BBA's upgrade to Outperform from Market Perform on October 6 with a target price increase to $27 from $19. The positive revisions continued to reflect optimism over Brazil's financial market reform expectations after the first-round presidential election results on October 5, when XP had surged over 30% intraday.

XP Inc. provides financial products and services in Brazil, operating an open product platform that offers brokerage, fixed income, funds, credit, insurance, and wealth management services through an omni-channel distribution network.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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