Morgan Stanley raised the firm’s price target on StoneCo (STNE) to $6 from $5.70 and keeps an Underweight rating on the shares. With digital payments now accounting for 95% of personal consumption expenditures, Brazil is on the brink of becoming the first economy worldwide to reach saturation, which will have profound implications across the payments ecosystem, the analyst tells investors in a research note. The firm expects net income for Stone to decline over the next five years.
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