Minerva S.A. downgraded to Neutral from Buy at Citi

Citi downgraded Minerva S.A. (MRVSY) to Neutral from Buy with a price target of R$5.50, down from R$9.50. While the plant acquisition offers meaningful upside potential for the stock, the financial burden, cyclical headwinds and integration risk pose uncertainty for the company’s outlook in 2025, the analyst tells investors in a research note.