HSBC last night upgraded Cosan (CSAN) to Hold from Reduce with a price target of $5, up from $4.40. The company’s equity offering proceeds will be used to pay down expensive debt and help restructure the remaining portfolio of diversified assets, the analyst tells investors in a research note. HSBC cites vallation for the upgrade.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CSAN: