Citi cuts StoneCo as fundamentals priced in

|About: StoneCo Ltd. (STNE)|By:, SA News Editor

Stoneco (STNE -3.5%) fell as much as 5.2% after Citi analyst Felipe Salomao trimmed his rating on the stock to neutral a its current valuation "prices in most of the positive fundamentals for the next quarters," he writes.

YTD, StoneCo has rallied 96%.

Though Salomao cut his adjusted EPS estimate for 2019, he boosted them for 2020 and 2021.

He sees StoneCo continuing to "offset competitive pressure with growth towards smaller clients."

The Brazilian fintech firm counts Warren Buffet's Berkshire Hathaway and Jack Ma's Ant Financial among its stockholders.

Analyst ratings.

Previously: StoneCo -1.7% after follow-on offering prices (April 3)

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