Cosan resumed with a Buy at Citi

Citi resumed coverage of Cosan (CSAN) with a Buy rating and R$19 price target The firm’s positive view is underpinned by better results at Cosan’s business units and by Cosan’s focus to deleverage its portfolio during a potential period of higher interest rates in Brazil. According to reports, Cosan is evaluating the sale of its stake at Vale (VALE), and it does not disregard a potential sale of a minority stake in Compass, though this is not a priority, the analyst noted.