Nu Holdings Names Ex-Visa CFO as BofA Cuts Price Target to $10
V•Nu Holdings saw its price target slashed to $10 from $16 as BofA Securities downgraded the stock to Underperform, signaling roughly 23% downside potential. Rob Livingston, former Visa CFO, will assume the finance chief role on July 13, replacing Guilherme Lago, who becomes Special Advisor through August 31.
1. BofA Downgrade and Price Target Cut
BofA Securities downgraded Nu Holdings to Underperform from Neutral and cut its price target to $10 from $16, indicating roughly 23% downside potential. The firm cited uncertainty from the CFO transition and a tougher credit environment in Brazil.
2. CFO Transition Details
On July 13, Rob Livingston, former Visa CFO, will assume the finance chief role at Nu Holdings, replacing Guilherme Lago. Lago will transition to Special Advisor through August 31, supporting corporate development, audit and risk oversight.
3. New CFO Background
Livingston brings over 30 years of financial services experience across North America, Europe and Asia, most recently serving as CFO for Visa’s North American business. He will lead global finance functions including capital planning, reporting, tax and investor relations.
4. Strategic Implications
After receiving conditional approval for a U.S. bank, Nu seeks to expand operations in Mexico and Colombia. Investors will watch how the new CFO balances growth initiatives with financial discipline in a more challenging credit environment.
