2024-04-20 12:55:37 ET
Summary
- Inter & Co delivered excellent results after its IPO in 2018, however the rise in interest rates harmed the company, which carried out a successful change in strategy.
- Over the last 12 months, the company has focused on more profitable businesses and reducing its costs. This caused its shares to rise more than 200%.
- Despite the improvement in results and a bold growth plan until 2027, the company's valuation appears cheap compared to its peers and its own history.
Investment Thesis
I recommend buying Inter & Co (NASDAQ: INTR ) shares. Inter & Co was one of the first digital banks to carry out an IPO in the West and simply quadrupled the number of customers between 2018 and 2020, reaching more than 8 million. At that time, Inter & Co had a P/B multiple of 6x, and the strategy of all fintechs in the world was to grow without worrying about profitability....
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Inter & Co: New Strategy Being Executed Impeccably