Shares of CI&T Inc. (CINT) surged 6.07% in pre-market trading on Monday, following a significant upgrade from JPMorgan. The financial services giant raised its rating on CI&T from Neutral to Overweight, signaling increased confidence in the company's prospects.
JPMorgan analyst Puneet Jain maintained the price target for CI&T at $7, despite the upgrade. This move suggests that the analyst sees potential upside for the stock, even as it trades below the target price. The upgrade comes as CI&T is reportedly beginning to benefit from certain factors, although specific details were not provided in the available news.
The positive sentiment from JPMorgan aligns with the broader market view on CI&T. According to analysts polled by FactSet, the company currently has an average rating of "buy" with a mean price target of $7.88. This upgrade could potentially spark increased investor interest in CI&T, as the market digests the implications of JPMorgan's more bullish stance on the stock.
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