By Sam Boughedda
Investing.com — Digital banking fintech firm Nu Holdings Ltd (NYSE:NU) shares have risen over 6% Monday after Wall Street analysts initiated coverage of the stock with mostly bullish ratings.
Analysts at Goldman Sachs, UBS, KeyBanc, Morgan Stanley, Susquehanna, and Wolfe Research all provided positive commentary on Nu Holdings, the parent company of Nubank.
Morgan Stanley analyst Jorge Kuri started Nu at overweight with a $16 price target. The analyst said in a research note that he feels Nubank can build "the largest and most profitable banking franchise in Latin America."
Kuri also told investors Nubank is one of the "largest and fastest growing digital banking platforms with a highly recognized and valuable brand; cross selling additional products should result in a significantly larger business over time."
Meanwhile, Susquehanna analyst James Friedman labeled the company a "unique" growth story, initiating coverage with a positive rating and $14 price target.
Friedman said Nu has "good visibility on hyper-growth for many years to come."