BofA lowered the firm’s price target on DLocal to $15 from $18 and keeps a Neutral rating on the shares. Following Q1 results, the firm decreased its FY24, FY25 and FY26 adjusted EPS estimates to 50c, 73c and $1.00, respectively, and also trimmed its multiple given DLocal’s exposure to emerging markets and risk of further take rate degradation.
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