Hypera downgraded to Equal Weight from Overweight at Morgan Stanley

Morgan Stanley analyst Javier Martinez de Olcoz Cerdan downgraded Hypera to Equal Weight from Overweight with an unchanged price target of R$47.20. 2022 was a great year for revenue and margins for Brazil’s drug retailers and Hypera and Raia Drogasil should continue to expand market share, but now in a decelerating market, the analyst tells investors.