Analyst Yuri Fernandes upgraded Cayman Islands-based StoneCo to overweight from neutral, citing the stock's appealing annual earnings potential of 20%.
An overseas investment idea investors shouldn't overlook is StoneCo, a Brazilian financial technology and software solutions company headquartered in the Cayman Islands that JPMorgan has grown bullish on. Analyst Yuri Fernandes upgraded the U.S.-traded shares of Stone to overweight from neutral, citing the stock's appealing earnings potential at a compound annual growth rate of 20% between 2023 and 2027, as well as its discounted valuation.
mountain 2022-12-31 StoneCo. shares in 2023 and 2024. Correction: An earlier version of this article misstated the main driver behind Stone shares plummeting roughly 25% this year. An incorrect reference to the date that Stone came out with first-quarter earnings results has been removed.
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