Goldman Sachs upgraded Banco Bradesco to Neutral from Sell with an unchanged price target of $2.80. The stock has de-rated significantly post Q4 earnings and management’s announcement of guidance and a five-year strategic plan improve earnings forecast visibility, although execution remains a question mark, the analyst tells investors in a research note. The firm believes downside risks are likely priced into Bradesco shares.
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Read More on BBD:
- Banco Bradesco downgraded to Hold from Buy at Jefferies
- BBD Upcoming Earnings Report: What to Expect?
- Banco Bradesco downgraded to Sell from Neutral at Goldman Sachs
- Banco Bradesco downgraded to Hold from Buy at HSBC
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