Goldman Sachs analyst Thiago Bortoluci has maintained their bullish stance on JBS stock, giving a Buy rating on February 6.
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Thiago Bortoluci has given his Buy rating due to a combination of factors tied to JBS’s strategic expansion and earnings potential. He highlights that the new joint venture with Oman Food Capital positions JBS as a major regional protein supplier in the Middle East, a market with strong structural growth, attractive margins, and lower geopolitical risk due to food‑security policies.
Bortoluci also underscores that the Middle East hub, together with the partnership with Entaj and the Jeddah expansion, should add meaningful capacity, brand strength, and distribution reach versus peers like BRF. Based on a sum‑of‑the‑parts valuation, he sees upside to JBS’s share price, supported by an attractive 12‑month target and solid NPV contribution from the project, while acknowledging standard industry risks such as FX volatility, supply cycles, and trade disruptions.
In another report released on February 6, UBS also initiated coverage with a Buy rating on the stock with a $19.50 price target.