Goldman Sachs downgraded Banco Bradesco (BBD) to Sell from Buy with a price target of $2, down from $2.40. The bank’s return on equity remains below its cost of equity on a fully-year basis until at least 2027, while still lagging Itau and Santander Brasil, the analyst tells investors in a research note. Goldman believes Bradesco’s “muted” profitability should limit its organic capital generation, following a year when shareholders’ equity remained stable.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BBD:
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue