XP Inc. (XP) shares are soaring in pre-market trading, up 5.09%, following a price target increase from Bank of America and the recent release of strong first-quarter financial results. The Brazilian financial services company's stock is attracting investor attention as analysts express increased confidence in its growth prospects.
Bank of America analyst Mario Pierry has raised the firm's price target on XP Inc. to $19 from $16, maintaining a Neutral rating on the shares. This significant upgrade comes after the company reported its Q1 2025 earnings, which appear to have impressed analysts and investors alike. While specific details of the earnings report are not provided, the positive reaction suggests that XP Inc. may have outperformed expectations.
The combination of strong quarterly results and the subsequent analyst upgrade is likely driving the stock's pre-market surge. Investors seem to be responding positively to the improved outlook for XP Inc., as reflected in the higher price target. As the trading day progresses, market participants will be watching closely to see if XP can maintain its momentum and build on these early gains.
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