CI&T initiated with a Neutral at Goldman Sachs

Goldman Sachs initiated coverage of CI&T with a Neutral rating and $7.30 price target. The company combines a solid track record of profitable revenue growth in the global digital-transformation space with increasingly diversified revenue mix across regions, segments and clients, and its improving revenue mix and a focus on emerging technologies should support the continuation of a fast cyclical turnaround in revenues, consistent with the company’s guidance, the analyst tells investors in a research note. The firm adds however that its expectations of strong growth for CI&T are already embedded in consensus estimates, with valuation consistent with those of global digital-native peers.