XP Inc. price target lowered to $25 from $31 at BofA

BofA analyst Mario Pierry lowered the firm’s price target on XP Inc. to $25 from $31 and keeps a Buy rating on the shares. After hosting XP CEO Thiago Maffra in a series of meetings with investors, BofA says 2026 guidance remains very much achievable as it did not contemplate any significant improvements in the macro environment and tells investors in a research note that recent changes to the board was highlighted as an important transition into a more mature institution.