Banco Bradesco downgraded to Neutral from Overweight at JPMorgan

JPMorgan downgraded Banco Bradesco (BBD) to Neutral from Overweight without a price target The firm says that while Bradesco has been gradually improving its results, the improvements have been slower than expected. The analyst is concerned that this will continue to be the case in 2025 as “necessary investments remain,” and significant cost-to-income improvements may be postponed until 2026.