StoneCo, PagSeguro Digital initiated with a Hold rating at Jefferies

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Jefferies initiated coverage of Latin American companies StoneCo ( STNE ) and PagSeguro Digital ( PAGS ) with a Hold rating and price targets of $12.60 and $10.40, respectively. The coverage expands Jefferies' LatAm coverage to 145 companies (~80% of MSCI) and financials to 20 names.

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Investment bank Jefferies has initiated coverage on Latin American fintech companies StoneCo and PagSeguro Digital with Hold ratings and price targets of $12.60 and $10.40, respectively. With this action, Jefferies' Latin American coverage has expanded to 145 companies, and its financial sector weight has increased to 20 stocks. Investors should carefully monitor future earnings growth and macroeconomic changes based on the neutral investment ratings of these companies.

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