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Citigroup Downgrades Nu Holdings to Neutral From Buy, Adjusts PT to $13 From $18

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FINWIRES Analysis

Citigroup's downgrade and steep target cut to $13 break notably from the $17.73 consensus that still leans overweight on the Latin American digital bank. The move likely reflects concerns over credit-cost normalization or slowing growth as Nu's loan book matures across Brazil and Mexico. As a high-profile bull-favorite, a major-bank downgrade here could pressure sentiment more than the rating change alone implies.

What are the key takeaways?

  • Target cut to $13 versus $17.73 consensus
  • Likely credit-cost or growth-normalization concerns
  • Downgrade may pressure a crowded bull name

Nu Holdings (NU) has an average rating of overweight and mean price target of $17.73, according to analysts polled by FactSet.

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