Warren Buffett's Berkshire Hathaway saw a 13% decline in Nu Holdings stock due to buy and price target cut

From Nasdaq: 2024-12-20 18:33:16

Warren Buffett’s company, Berkshire Hathaway, saw a 13% decline in the share price of Brazil-based fintech Nu Holdings (NYSE: NU) due to a new asset buy and an analyst’s price target cut. Analyst Tito Labarta from Goldman Sachs reduced the price target to $17 but maintained a buy recommendation. Despite Buffett trimming Berkshire’s stake in Nu Holdings earlier this year, the company remains a major player in its domestic market. Nu Holdings recently invested $150 million in Tyme Group, a banking conglomerate operating in South Africa and the Philippines, sparking investor questions about synergy.

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