DLocal price target raised to $10 from $9 at BofA

BofA analyst Cassie Chan raised the firm’s price target on DLocal (DLO) to $10 from $9 and keeps a Neutral rating on the shares after the company delivered “a solid 3Q beat overall” and reaffirmed its FY24 outlook. The firm believes the implied Q4 guidance “should be reasonably achievable” given the seasonal ramp in Q4 of higher take rate e-commerce volumes and while it says DLocal has “a solid business model,” BofA sees potential risks related to margin compression and revenue growth deceleration.