BofA Initiates PicS N.V. (PICS) With a Buy Rating
PicS N.V. (NASDAQ:PICS) is one of the Best Small-Cap Growth Stocks to Buy According to Hedge Funds. On February 24, Bank of America Securities initiated a Buy rating on PicS N.V. (NASDAQ:PICS) with a price target of $27.
The firm said in a research note that PicS N.V. ranks as the third largest fintech in Brazil in terms of the number of clients. The company shifted to balance sheet risk through underwriting credit cards and payroll loans in 2023. BofA believes that the credit business will be the core driver for the company’s earnings moving forward. The firm expects 117% EPS compound annual growth rate through 2028, and has also improved the return on equity forecast to more than 30%, up from the current 16% LTM level.
Similarly, earlier on February 23, Mizuho Securities and Citi also initiated the stock with a Buy rating and set price targets of $30 and $28, respectively.
PicS N.V. (NASDAQ:PICS) operates as a leading Brazilian fintech company, delivering digital financial services through a mobile app ecosystem for consumers and businesses nationwide.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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