XP Inc. (NASDAQ: XP) is trading higher today, extending gains after an analyst update that refreshed investor expectations for 2026 growth. The key catalyst is a Bank of America price-target increase to $26 from $22, with the firm maintaining a Neutral rating.

The note highlights that management reiterated its 2026 gross revenue guidance during the Q4 conference call, which the analyst views as pointing to an acceleration in revenue growth ahead. Bank of America also lifted its own revenue-growth assumptions and now expects roughly 12% growth in 2026, while still noting its forecast remains below the low end of the company’s guidance range.

After today’s bounce, attention shifts to whether incoming operating metrics (client assets, net inflows, and product-mix trends) support the company’s 2026 growth outlook and the idea of acceleration. With multiple banks already carrying meaningfully higher targets than the current share price, additional follow-through could depend on either further estimate revisions or clearer evidence that the 2026 guidance trajectory is materializing.