XP Inc. downgraded to Neutral from Outperform at Grupo Santander
The downgrade supports a cautious, mildly bearish interpretation despite the target’s implied upside.
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The downgrade supports a cautious, mildly bearish interpretation despite the target’s implied upside.
What happened, with direct paths to the underlying reporting
Banco Santander downgraded XP from Outperform to Neutral. Although its $19 target is above the posted price of $16.09, the rating cut is a clear negative change in the analyst’s stance.
Target: $19
Posted price: $16.09
Analyst firm: Banco Santander
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