brazilian financial services company inter is getting serious about profitability and investors should jump in stock before shares rise according to goldman sachs analyst tito labarta upgraded the stock to buy his price target of 420 implies a 70 upside over mondays close we upgrade inter to buy given increased focus on profitability he said in a note to clients monday labarta said the brazilian company has grown increasingly focused on profitability with a more thoughtful approach to growth pricing and efficiency he expects a small net profit in 2024 as according to labarta the company will feel less impacts from inflation the company should also benefit from the ongoing repricing of loans while having no deterioration to major assets he said he also highlighted the 5year 30 returnonequity target which labarta said is above his expectations but on the right track hes also optimistic because of the companys super platform which combines banking investing ecommerce and other services under one application within that labarta said credit can be a growth lever given that its is the largest profit pool for banks in brazil and inter has the opportunity for further market share gain inter has between 1 and 2 of share in most markets he said theres also what he called an asymmetric riskreward ratio with the recent selloff of growth names creating in his opinion an attractive entry point the stock lost 41 in 2022 which was its first year on the stock market cnbcs michael bloom contributed to this report