Cemig downgraded to Underperform from Neutral at BofA

BofA analyst Gustavo Faria downgraded Cemig (CIG) to Underperform from Neutral with a price target of R$11, down from R$13. The firm cut its 2025-26 EBITDA forecast by 10% to factor in the negative impact of regional power prices in Brazil and the company’s Q4 results.

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