JBS (JBS – Research Report), the Consumer Defensive sector company, was revisited by a Wall Street analyst yesterday. Analyst Ricardo Alves from Morgan Stanley maintained a Buy rating on the stock and has a $21.00 price target.
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Ricardo Alves has given his Buy rating due to a combination of factors including the recent dual-listing of JBS shares on the NYSE, which he believes enhances the company’s visibility and accessibility to a broader investor base. This transition is seen as a strategic move that could potentially drive the stock’s valuation closer to its US peers, such as Tyson Foods, thereby narrowing the valuation gap.
Alves also highlights the significant upside potential of approximately 50% based on the new price target of US$21 per share. Despite the stock’s strong performance over the past 12-18 months, he views the recent trading flow dynamics as a temporary weakness, presenting an attractive entry point for investors. The analyst maintains a bullish outlook, considering JBS as a top pick in the Latin American food and beverage sector.
According to TipRanks, Alves is a 3-star analyst with an average return of 15.8% and a 75.00% success rate.
In another report released yesterday, Barclays also initiated coverage with a Buy rating on the stock with a $22.00 price target.