JPMorgan analyst Lucas Ferreira upgraded Minerva S.A. to Overweight from Neutral with a price target of R$17, up from R$15. Brazil export beef prices could have bottomed and are set to rebound on China’s reopening, Ferreira tells investors in a research note. In addition, Minerva should also benefit from improving cattle availability over the next 18 months, says the analyst.
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Published first on TheFly