Scotiabank analyst Alfonso Salazar downgraded Rumo to Sector Perform from Outperform with an unchanged price target of R$24. The firm no longer sees “attractive upside” to its one-year price target following the roughly 30% rally in the stock year-to-date and adds that China’s agricultural self-sufficiency goal “looks to us as a threat to Rumo’s investment plan.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on RUMOF: