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Nu Holdings Rises as Wall Street Initiates Coverage -Breaking

by Mike Robinson

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© Reuters

Sam Boughedda

Investing.com — Firm that offers digital banking and fintech Nu Holdings Ltd shares (NYSE:) rose over 6% Monday, after Wall Street analysts began coverage with bullish ratings. 

Analysts at Goldman Sachs, UBS, KeyBanc, Morgan Stanley, Susquehanna, and Wolfe Research all provided positive commentary on Nu Holdings, the parent company of Nubank.

Jorge Kuri, a Morgan Stanley analyst, started Nu as overweight and set a price target of $16. According to the researcher, Nubank is able to build Latin America’s largest and most profitable bank franchise.

Kuri stated to investors, “Nubank” is the largest and fastest growing digital bank platform with a valuable brand. Cross-selling additional products should lead to a substantially larger business.

James Friedman, a Susquehanna analyst, referred to the company as a unique growth story and initiated coverage, with a positive rating, and a $14 price target.  

Friedman claimed that Nu “has good visibility” on hyper-growth over many years.

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