Why Shares of XP Soared on Friday
For a publicly traded company, it's always pleasant to get a stamp of approval from a major player in the finance world. That was the case on Friday with Brazilian financial services company XP (NASDAQ: XP), whose shares were lifted nearly 8% on the back of a positive adjustment in sentiment from a high-profile source.
Friday morning, Domingos Falavina, an analyst at the J.P. Morgan unit of JPMorgan Chase, changed his recommendation on the stock. He believes it's now overweight (read: buy); previously, he had tagged it as neutral. Falavina's price target is $50; if realized, this would mean the shares have 36% upside at their current level.
Image source: Getty Images.
Source Fool.com
