XP’s (NYSE:XP) quiet period is set to expire on Monday, January 20th. XP had issued 72,510,641 shares in its IPO on December 11th. The total size of the offering was $1,957,787,307 based on an initial share price of $27.00. During XP’s quiet period, insiders and any underwriters involved in the IPO are restricted from issuing any research reports or earnings estimates for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.
A number of research analysts have recently commented on XP shares. Goldman Sachs Group assumed coverage on XP in a report on Monday, January 6th. They set a “neutral” rating and a $40.00 price target on the stock. Morgan Stanley started coverage on shares of XP in a report on Monday, January 6th. They issued an “overweight” rating and a $45.00 price objective for the company. JPMorgan Chase & Co. started coverage on shares of XP in a research report on Monday, January 6th. They issued a “neutral” rating and a $44.00 target price for the company. Finally, Credit Suisse Group assumed coverage on shares of XP in a research report on Monday, January 6th. They issued a “neutral” rating and a $43.00 target price for the company.
XP stock opened at $38.79 on Monday. XP has a 12-month low of $32.10 and a 12-month high of $40.50.
XP Inc operates technology-driven financial services platform that provides financial products and services in Brazil. It provides broker-dealer services for high-net worth customers and institutional clients; product structuring and capital markets services for corporate clients and issuers of fixed income products; advisory services for mass-affluent and institutional clients; and wealth management services for high-net-worth clients.
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