Inter & Co Rides High on Analyst Upgrades and Strong Earnings

Published 19 hours agoINTR

Inter & Co Rides High on Analyst Upgrades and Strong Earnings

Inter & Co, Inc. (NASDAQ: INTR) is witnessing a boost in its stock performance, gaining attention with key developments. Recently, JPMorgan Chase & Co. upgraded the company's rating from 'neutral' to 'overweight' and set a new price target of $8.50, suggesting a potential 36% upside. Alongside this analyst boost, the company’s shares have shown an impressive year-to-date performance of 33.70%, attracting investor interest.

In the third quarter of 2024, Inter & Co reported earnings of $0.10 per share, which surpassed the Zacks Consensus Estimate of $0.08 per share. The revenue for the same period hit $302.29 million, beating expectations by 14.60%. These strong financial results underpin the company's robust market position. Additionally, strategic expansions, such as the acquisition of Granito, have bolstered its growth, particularly in the U.S. market.

Inter & Co is also making strides with its super app, Banco Inter, which now boasts over 35 million users across the Americas. This innovative platform offers a wide range of financial services, reinforcing the company's competitive edge. As its stock currently trades at $6.56 with intraday highs reaching $6.75, Inter & Co continues to capture attention as a notable player in the financial sector.

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