Inter&Co price target lowered to $4 from $4.50 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Inter&Co to $4 from $4.50 and keeps an Underweight rating on the shares. While the bank has made strides in cost efficiency, the firm argues that weak customer monetization, limited credit cross-selling, poor lending unit economics, and marginal cost gains limit further expansion in return on equity.