Brazilian financial services company Inter is getting serious about profitability, and investors should jump in stock before shares rise, according to Goldman Sachs. Analyst Tito Labarta upgraded the stock to buy. His price target of $4.20 implies a 70% upside over Monday's close. "We upgrade Inter to Buy, given increased focus on profitability," he said in a note to clients Monday.
He also highlighted the 5-year 30% return-on-equity target, which Labarta said is above his expectations but on the right track. He's also optimistic because of the company's "super" platform, which combines banking, investing, e-commerce and other services under one application. Within that, Labarta said credit can be a growth lever given that it's is the largest profit pool for banks in Brazil, and Inter has the opportunity for further market share gain.
The bank of Santos?
Which bank ? cannot read the article
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