As previously reported before the open, HSBC analyst Neha Agarwala downgraded DLocal to Hold from Buy with a price target of $16, down from $19, after the company reported "mixed" Q4 results and gave Q1 guidance that suggests strong TPV growth but continued pressure on take rates and margin. The firm, which sees continued near-term pressure on gross profit margins, also thinks the company "needs to deliver at least a few steady quarters to regain market credibility."
Published first on TheFly
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- DLocal downgraded to Hold from Buy at HSBC
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- DLocal price target lowered to $25 from $31 at Morgan Stanley
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