Goldman Sachs downgraded Banco do Brasil (BDORY) to Neutral from Buy with a price target of R$26, down from R$31. The firm expects the company’s earnings growth outlook to be more challenging given the deterioration in asset quality, particularly in rural loans, and a slowdown in net interest income growth, pressured by funding costs, weaker loan growth and a smaller contribution from Patagonia.
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 BDORY:
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue