Assai downgraded to Underweight from Neutral at JPMorgan

JPMorgan downgraded Assai (ASAIY) to Underweight from Neutral with a price target of $7.50, down from $10. The firm sees more challenging sales growth for the company into the end of 2025 and 2026. JPMorgan has seen a “steady deterioration” in sales trends for food retailers and says the expected deceleration in food inflation through mid-2026 “should spell a challenging pricing scenario.”